7 ms·
In the specific case of Washington, they have an excise tax on the sale of real estate up to (IIRC) 3% of property value, which is substantial. Taxing the gain
by jandrewrogers 6y ago
In the specific case of Washington, they have an excise tax on the sale of real estate up to (IIRC) 3% of property value, which is substantial. Taxing the gain and the sale would put quite a significant tax burden on people moving house, particularly in very expensive markets like Seattle where most home sales will be subject to capital gains.