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To: Steve Lokness who wrote (26462)3/28/2005 5:15:41 PM
From: CalculatedRisk  Read Replies (2) | Respond to of 116555
 
OK, from that article: "Washington State is one of only six states in the nation to levy a sales tax on the labor and materials that go into the construction of a new home. ... [A]n additional Real Estate Excise Tax is levied based on the total selling price of the home."

So they don't levy a sales tax on the home, but on the "labor and material" for a new home. (Existing homes must be exempt). Plus some sort of Excise Tax on the selling price.

Do you know how much the excise tax is?

Thanks! Sounds interesting ...



To: Steve Lokness who wrote (26462)3/28/2005 5:25:09 PM
From: patron_anejo_por_favor  Respond to of 116555
 
I stand corrected! Wow, that's a powerful disincentive to flipping, perhaps other revenue starved states will start to look at it as an income source.....<NG>



To: Steve Lokness who wrote (26462)3/28/2005 5:42:47 PM
From: Jim McMannis  Respond to of 116555
 
What are the other 5?


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