Amends the definition of timberland for real property excise tax purposes in Washington.

This bill amends the definition of timberland for purposes of determining the real property excise tax for a governmental entity in Washington. Timberland is defined as land classified under chapter 84.34 RCW, designated under chapter 84.33 RCW, or transferred to a governmental entity managing it as designated forestland or classified timberland. The bill also outlines the tax rates for sales of real property classified as timberland or agricultural land, with adjustments to selling price thresholds based on the consumer price index for shelter.

Amends the definition of timberland for real property excise tax purposes in Washington.

This bill amends the definition of timberland for purposes of determining the real property excise tax for a governmental entity in Washington. Timberland is defined as land classified under chapter 84.34 RCW, designated under chapter 84.33 RCW, or transferred to a governmental entity managing it as designated forestland or classified timberland. The bill also outlines the tax rates for sales of real property classified as timberland or agricultural land, with adjustments to selling price thresholds based on the consumer price index for shelter.