Get the free REAL ESTATE EXCISE TAX AFFIDAVIT

This document serves as a formal affidavit required for reporting the sale or transfer of real estate in accordance with Washington state law. It provides the necessary information for tax purposes,

How to fill out real estate excise tax

How to fill out REAL ESTATE EXCISE TAX AFFIDAVIT

1. Obtain the REAL ESTATE EXCISE TAX AFFIDAVIT form from your local government website or office.
2. Fill in the property information, including the property address, parcel number, and legal description.
3. Enter the buyer's and seller's names and addresses.
4. Provide details of the sale, including the date of sale and sales price.
5. Indicate any exemptions that may apply to the transaction.
6. Sign and date the affidavit to certify the information provided is accurate.
7. Submit the completed affidavit to the appropriate local government office, along with any required fees.

Who needs REAL ESTATE EXCISE TAX AFFIDAVIT?

1. Individuals or entities involved in the sale or transfer of real estate in Washington State.
2. Buyers and sellers of real property as part of the closing process.
3. Anyone seeking to claim exemptions or reductions in excise tax.

People Also Ask about

What is an affidavit for rental property?

A landlord affidavit of residence serves as a formal declaration confirming a tenant's place of residence. This document typically includes essential information such as the tenant's name, the property address, and the duration of the tenancy.

What is an excise tax affidavit in Washington state?

Excise taxes assessed on a conveyance (transfer) must be paid before the recording of the conveyance documents. This includes documents like the warranty deed and real estate contract. A Real Estate Excise Tax Affidavit must be completed and signed by all parties involved in a real property conveyance.

What is a property tax affidavit?

The form is used by the assessor to ensure the property is assessed appropriately and to make the proper transfer of ownership determination. The PTA must be filed by the buyer/grantee at the Assessing Department within 45 days of the transfer. If the PTA is not timely filed then the owner is subject to a penalty.

What does a property tax certificate mean?

The tax certificate for your property will also mention the relevant taxing districts. It can also unveil any unrecorded debts owed to the municipality, which may not yet be listed as liens. In short, the buyer of a tax certificate will get a complete overview of a property's tax status.

What is an affidavit used for in real estate?

An affidavit of title is a legal document provided by the seller of a piece of property that explicitly states the status of potential legal issues involving the property or the seller. The affidavit is a sworn statement of fact that specifies the seller of a property holds the title to it.

What is an excise tax in real estate?

An excise tax is a tax on the transfer of ownership from the seller to the buyer paid at closing. The tax amount is based on the sale price of the home and varies by state and local government.

Is a property transfer affidavit the same as a deed?

While a Deed of Trust secures the lender's interest in the property and a Warranty Deed guarantees clear title transfer, a property transfer affidavit primarily provides an official record of the transaction. It doesn't offer the same guarantees or security.

How much is Washington state real estate excise tax?

Graduated REET Structure effective Jan. 1, 2023 for the state portion of REET Sale price thresholdsTax rate $525,000 or less 1.10% $525,000.01 - $1,525,000 1.28% $1,525,000.01 - $3,025,000 2.75% $3,025,000.01 or more 3%

For pdfFiller’s FAQs

What is REAL ESTATE EXCISE TAX AFFIDAVIT?

The Real Estate Excise Tax Affidavit is a legal document used to report the sale of real property and to calculate and remit the excise tax owed on that transaction.

Who is required to file REAL ESTATE EXCISE TAX AFFIDAVIT?

The seller of the real estate, or their authorized agent, is required to file the Real Estate Excise Tax Affidavit when the property is sold or transferred.

How to fill out REAL ESTATE EXCISE TAX AFFIDAVIT?

To fill out the Real Estate Excise Tax Affidavit, provide details such as the names of the buyer and seller, the property address, the sale price, and any additional relevant information as required by the form.

What is the purpose of REAL ESTATE EXCISE TAX AFFIDAVIT?

The purpose of the Real Estate Excise Tax Affidavit is to ensure the proper calculation and collection of excise taxes on real estate transactions, serving as a record of the sale for tax purposes.

What information must be reported on REAL ESTATE EXCISE TAX AFFIDAVIT?

Information that must be reported includes the names and addresses of the buyer and seller, the sale price of the property, a description of the property, and any other pertinent details required by local tax authorities.