On June 5th, the Washington State Department of Health approved King County to start reopening business activity. Governor Inslee referred to the reopening plan as “phase 1.5” of King County’s gradual plan to fully reopen. The King County announcement states: "With new state health officials’ approval today, restaurants and retailers will be allowed to serve customers in their establishments, Continue Reading
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New Real Estate Excise Tax (REET) Rate to go into effect January 2020
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
