Notice of Introduction for House Bill 1858 - 10 Year Analysis Complete
Office of the Governor / Office of Financial Management sent this bulletin at 02/18/2025 08:56 PM PST
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HB 1858, titled AN ACT Relating to eliminating the exemption for assignments or substitutions of previously recorded deeds of trust from the document recording fee and the covenant homeownership program assessment, has been introduced in the House
of Representatives. The Office of Financial Management has identified this bill as requiring a ten-year projection of increased cost to the taxpayers or affected fee payers.
Ten-year projection:
|
Fiscal |
Covenant Homeownership Program Assessment |
Document Recording Surcharge |
Total |
|
|
|
||||
|
2026 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2027 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2028 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2029 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2030 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2031 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2032 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2033 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2034 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2035 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
|
||||
|
Total: |
$137,231,000 |
$173,281,590 |
$310,512,590 |
|
Ten-year projection prepared in consultation with the following agencies:
Department of Commerce
Bill sponsors and contact information:
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp