WA state excise tax on property sale?

[Big_Hitter]

Working a deal on some dirt I have for sale in Clallam county and the draft settlement statement has a few grand for some excise tax payable by the seller?

Do non-residents have to pay this?

 

[Fermion]

I think everyone has to pay. I think we will get dinged for thousands when we sell our house in WA state. Just thing of it as a parting goodbye.

 

[Big_Hitter]

I think everyone has to pay. I think we will get dinged for thousands when we sell our house in WA state. Just thing of it as a parting goodbye.

well my asking price just went up a few grand

 

[Fermion]

well my asking price just went up a few grand

It is one of the reasons I am reluctant to do any significant repairs or upgrades to our house to sell it.

Pay sales tax on the price of the repair (and pay sales tax on hiring the workers), pay agent fee on the repair when you sell the house, and finally pay excise tax on the repair when you sell the house.

By the time all is said and done, $100,000 of work costs you near $120,000

 

[Big_Hitter]

I have two parcels in Clallam county on the market and a house in Port Angles that I rent. I'm thinking about keeping the house in PA for a summer home after I FIRE.

We were originally planning to build on the two adjacent parcels (10 acres) but decided to retire here (ID) instead.

Dirt activity in Sequim/PA seems to have picked up quite a bit recently.

I love PA in the summer.

 

[pb4uski]

....Do non-residents have to pay this? (

Everybody pays it.

 

[Chuckanut]

What % was the excise tax?

Not state income tax correct? I guess the money has to come from somewhere.

 

[bld999]

What % was the excise tax?

Not state income tax correct? I guess the money has to come from somewhere.

Varies:
http://dor.wa.gov/Docs/forms/RealEstExcsTx/RealEstExTxRates.pdf

Paid by the seller.

 

[Big_Hitter]

What % was the excise tax?

Not state income tax correct? I guess the money has to come from somewhere.

close to 2% of the sales price, which I will pass on to the buyer

 

[pb4uski]

Pigs get fat.....

 

[OrcasIslandBound]

It must be one of the many things WA does to avoid state income tax

Sent from my Nexus 4 using Early Retirement Forum mobile app

 

[Big_Hitter]

It must be one of the many things WA does to avoid state income tax

Sent from my Nexus 4 using Early Retirement Forum mobile app

TX has no state income tax and no silly real estate excise tax

 

[hurricane harry]

We see some pretty healthy taxes here in the city.
fifty cent per gallon gas tax
I pay $450 per year to register one car and two motorcycles.
Ten percent sales tax on everything except food unless it's prepared like sandwiches.
The list goes on and will only get worse with boondoggle projects like our tunnel and homeless.
Pay by the mile tax coming next.




Two more years.

 

[OrcasIslandBound]

Perhaps, when it comes to taxes, this turns into a pick your poison (choose your state) kind of discussion.

Sent from my Nexus 4 using Early Retirement Forum mobile app

 

[Big_Hitter]

We see some pretty healthy taxes here in the city.
fifty cent per gallon gas tax
I pay $450 per year to register one car and two motorcycles.
Ten percent sales tax on everything except food unless it's prepared like sandwiches.
The list goes on and will only get worse with boondoggle projects like our tunnel and homeless.
Pay by the mile tax coming next.




Two more years.

you are making me feel like a genius moving to Idaho