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WA state excise tax on property sale?
03-14-2016, 09:03 AM
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#1
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Location: Les Bois
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WA state excise tax on property sale?
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?
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03-14-2016, 09:11 AM
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#2
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Join Date: Sep 2012
Location: Seattle
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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.
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03-14-2016, 09:12 AM
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#3
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Quote:
Originally Posted by 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.
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well my asking price just went up a few grand
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03-14-2016, 09:25 AM
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#4
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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
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03-14-2016, 09:32 AM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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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.
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03-14-2016, 09:51 AM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
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Quote:
Originally Posted by Big_Hitter
....Do non-residents have to pay this? (
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Everybody pays it.
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03-14-2016, 04:56 PM
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#7
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Join Date: Aug 2011
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What % was the excise tax?
Not state income tax correct? I guess the money has to come from somewhere.
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Comparison is the thief of joy
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03-14-2016, 05:27 PM
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#8
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Full time employment: Posting here.
Join Date: Mar 2012
Location: seattle
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Quote:
Originally Posted by Chuckanut
What % was the excise tax?
Not state income tax correct? I guess the money has to come from somewhere.
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Varies:
http://dor.wa.gov/Docs/forms/RealEst...tExTxRates.pdf
Paid by the seller.
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03-14-2016, 05:34 PM
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#9
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Quote:
Originally Posted by Chuckanut
What % was the excise tax?
Not state income tax correct? I guess the money has to come from somewhere.
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close to 2% of the sales price, which I will pass on to the buyer
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03-14-2016, 05:43 PM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
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Pigs get fat.....
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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03-14-2016, 08:43 PM
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#11
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Recycles dryer sheets
Join Date: Mar 2010
Location: Poway, CA
Posts: 441
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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
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03-15-2016, 07:49 AM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Quote:
Originally Posted by 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
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TX has no state income tax and no silly real estate excise tax
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03-15-2016, 09:03 AM
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#13
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gone traveling
Join Date: Jun 2015
Location: seattle/dahlonega
Posts: 77
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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.
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03-15-2016, 09:18 AM
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#14
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Recycles dryer sheets
Join Date: Mar 2010
Location: Poway, CA
Posts: 441
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Perhaps, when it comes to taxes, this turns into a pick your poison (choose your state) kind of discussion.
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03-15-2016, 09:49 AM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Quote:
Originally Posted by 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.
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you are making me feel like a genius moving to Idaho
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