10 Year Analysis Complete for House Bill 2027
Office of the Governor / Office of Financial Management sent this bulletin at 04/01/2025 10:14 PM PDT
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UPDATE: The 10 year analysis for HB 2027, titled AN ACT Relating to increasing the supply of affordable and workforce housing by increasing state and local taxes on the transfer of real estate, has been completed. 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 |
Real estate transfer tax |
|
|
|
||
|
2026 |
$0 |
|
|
2027 |
$10,800,000 |
|
|
2028 |
$33,000,000 |
|
|
2029 |
$34,600,000 |
|
|
2030 |
$36,200,000 |
|
|
2031 |
$46,400,000 |
|
|
2032 |
$62,800,000 |
|
|
2033 |
$65,800,000 |
|
|
2034 |
$69,000,000 |
|
|
2035 |
$86,800,000 |
|
|
|
||
|
Total: |
$445,400,000 |
|
Ten-year projection prepared in consultation with the following agencies:
Department of Revenue
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