One option the state is considering as a method to raise new revenue is to graduate the rate of taxation based on the value of the sale for the state real estate excise tax. While the increases fund different things based on the particular bill, there are two formulas the legislature is considering. Current law is a flat 1.28% REET.
What’s old is new again (or so I hope, because a lot of this may seem repetitive, but that’s the time of Session we’re in). The wrongful death bill, SB 5163, was heard for what is expected to be the final time on April 1. This bill is expected to be passed into law, with projected additional costs to local
This past week has been a busy one, with WSAC staff testifying at no fewer than a dozen hearings. With the House reporting passing 350 bills over to the Senate, and only 20 days allotted to policy committee hearings, next week should prove to be a busy one, as well. On Monday, WSAC testified in support of HB 1913, the
On Friday, February 1st at 10 am, the House Local Government Committee plans to take a close look at county and city funding. WSAC commends Chair Pollet and the committee members for their interest and will participate in the work session. First, they will hear from the Department of Revenue for an overview of property taxes, including the 1% property