THE NEW TAX RATES
The tax calculation is now slightly more complex—similar to personal income taxes, sellers will now pay different tax rates on each dollar of sales above a certain threshold. Below are the new tax rate tiers.

HOW THIS WILL AFFECT SELLERS
The Washington State REET change is good news for the 90%+ of sellers who sell their home for less than $1.56 million, as the new rates result in these sellers paying less in excise taxes.
NOTE: THE BREAKEVEN POINT IS $1,561,225


Local government REET rates did not change and remain in effect. Most local REET is 0.5% but there are exceptions. Local REET is not a graduated tax and is therefore calculated separately based on the home selling price.


If you have any questions, please contact a JetClosing Relationship Manager



JOANNINE KRAMARSIC
RELATIONSHIP MANAGER
Redmond, Sammamish, & Issaquah