Washington DOR Issues Updated Information on Commonly Used Real Estate Excise Tax Exemptions

The Washington Department of Revenue (DOR) Nov. 1 issued updated information on commonly used real estate excise tax (REET) exemptions. There are limited exemptions to REET. The DOR provides an updated overview of the most commonly used REET exemptions, which includes: 1) low-income housing; 2) housing transfers and improvements by developmentally disabled persons; 3) self-help housing; and 4) affordable housing. The DOR alerts taxpayers to review the full text and examples prior to claiming an exemption. The information also provides qualifying conditions for claiming the exemptions. [Wash. Dep’t of Revenue, Real Estate Excise Tax Exemptions (Commonly Used), 11/01/22]

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