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Washington Excise Tax and the Active Military
Washington's real estate excise tax is among the highest in the nation, and anyone who has participated in the purchase or sale of real property likely knows of the process or at least remembers seeing it listed as a line item somewhere in the transaction.  In Washington this tax can be found under RCW 82.45 and 82.46.
Last year House Bill 1308 was introduced on January 16th, 2007 that would create an exemption for homes sold by active duty military members as a result of military relocation orders.  Some of the additional conditions include that the property must have been the primary residence of the active military member, and the property must have been purchased within 5 years of the relocation and sold within 12 months following the order.  Sadly, however the bill never made it out of the finance committee.
This year the bill was reintroduced, and continues to sit.  According to the Financial Note included with the bill the State would lose out on about $5.3 million in 2008 and $8.6 million in 2009.  While this might seem like a lot, when you review the overall budget it doesn't seem to be that big of a percentage of the overall budget ... more

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