A real estate tax hike
House Bill 1480, a real estate tax hike bill, would allow counties to impose an additional 0.5% real estate excise tax (REET) on property sales to fund government-run affordable housing programs. This tax would be split between buyers and sellers, making homeownership and real estate transactions more expensive across the state.
More taxes, higher home prices: HB 1480 would pile on yet another tax at a time when housing affordability is already a crisis, adding to the cost of buying or selling a home.
Voter approval doesn’t guarantee fairness: While the tax requires voter approval before a county can impose it, the burden will fall disproportionately on homeowners and buyers—many of whom may not be able to afford these added costs.
Lack of accountability: The funds collected would be placed in a county-controlled housing account, distributed through government grants and loans with no clear measures of success or taxpayer protections.
Instead of adding new taxes on home sales, Washington should focus on reducing regulations and expanding private-sector housing solutions to increase affordability without burdening homeowners.
Tell Your Story!
House Bill 1480 would impose a new 0.5% real estate excise tax on property sales, driving up costs for homebuyers and sellers across Washington. At a time when housing affordability is already a crisis, this tax makes it even harder for families to buy or sell a home.
We want to hear from you! How would this tax impact you, your family, or your business? Share your story and help us fight back against this costly proposal.
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