Allowing all counties to impose a real estate excise tax for the purpose of developing affordable housing, subject to the will of the voters.

 H-0572.1

HOUSE BILL 1480

State of Washington

69th Legislature

2025 Regular Session

By Representatives Ramel, Lekanoff, Duerr, Doglio, Reed, Parshley, Peterson, Macri, Santos, Scott, and Pollet

Read first time 01/21/25. Referred to Committee on Finance.

AN ACT Relating to allowing all counties to impose a real estate excise tax for the purpose of developing affordable housing, subject to the will of the voters; and amending RCW 82.46.075 .

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

Sec. 1. RCW 82.46.075 and 2002 c 343 s 1 are each amended to read as follows:

(1) Subject to subsection(( s )) (4) (( and (5) )) of this section, the legislative authority of any county may impose an additional excise tax on the purchase and sale of real property in the county at the rate of (( one-half of one )) 0.5 percent of the selling price. The proceeds of the tax shall be used exclusively for the development of affordable housing including acquisition, building, rehabilitation, and maintenance and operation of housing for very low, low, and moderate-income persons and those with special needs.