Washington HB2027 proposes a real estate transfer tax to fund affordable housing and homelessness initiatives.

Washington HB2027 introduces a real estate transfer tax on property sales to fund affordable housing and homelessness initiatives. The tax rates vary based on property value, with higher rates for properties over $500,000. Revenues will be allocated to the housing stability account, developmental disabilities housing and services account, affordable housing for all account, and the Washington housing trust fund. The bill aims to increase housing supply, stabilize residents, and provide housing-related services for individuals with developmental disabilities.

Washington HB2027 proposes a real estate transfer tax to fund affordable housing and homelessness initiatives.

Washington HB2027 introduces a real estate transfer tax on property sales to fund affordable housing and homelessness initiatives. The tax rates vary based on property value, with higher rates for properties over $500,000. Revenues will be allocated to the housing stability account, developmental disabilities housing and services account, affordable housing for all account, and the Washington housing trust fund. The bill aims to increase housing supply, stabilize residents, and provide housing-related services for individuals with developmental disabilities.