Starting Jan. 1, 2020, if you’re selling a home or property in Snohomish County then the sale will be subject a new Graduated Real Estate Excise Tax (REET) by Washington State and Snohomish County. Here is a quick video, and a graphic below, that breaks down the following:

  • REET on a $500,000 and below home.
  • REET on a $500,000 - $1,500,000 home.
  • REET on a $1,500,000 - $300,000,000 home.
  • REET on $300,000,000 and above home.

After watching the video, continue reading to see a State and County combined tax rate table and a graphic illustrating working examples on the mentioned properties.

Combined Washington State & Snohomish County REET Rates

*The Washington State tax rate document didn't include Snohomish County's 0.5% tax rate so the table has been adjusted.

Sales Price Thresholds
Tax Rate
$500,000 or Less
1.60%
$500,000.01 - $1,500,000
1.78%
$1,500,000.01 - $3,000,000
3.25%
$3,000,000 or Above
3.5%

Graduated Real Estate Excise Tax Graphic

This graphic illustrates the Graduated tax breakdown on a $500,000 property, a $600,000 property, and a $4.4 million dollar property.

Washington State & Snohomish County Graduated Real Estate Excise Tax

Note*The Dec. 19, 2019 Special Notice document linked above breaks down the following:

  • Single Land Parcel
  • Multiple Land Parcels

Multi-Parcel Transactions: It is unknown at present if the sales price will be applied on a pro-rated parcel-by-parcel basis or on the aggregate sales price.