Now that the Washington State Senate Bill 5998 has been signed into law, our local real estate excise tax (REET) – the tax paid when you sell a property – will be getting a facelift in 2020. The flat rate of the past will make way for a new tiered system that gives owners a tax cut on the first $500,000 of their home value, keeps the current tax rate on the next $1 million of value, and then Continue Reading
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