WA HB2009

Amends RCW 82.45.030 to clarify that when a controlling interest in an entity holding Washington real property is transferred, the real estate excise tax selling price equals the true and fair value of the property multiplied by the percentage of the controlling interest being transferred

"Selling price" for real estate excise tax purposes means the true and fair value of property conveyed, with a rebuttable presumption that arm's length transactions between unrelated persons reflect total consideration paid

Total consideration includes money, anything of value, liens, mortgages, contract indebtedness, and other encumbrances, but excludes government liens for taxes or special benefits and relocation assistance in deed-in-lieu-of-foreclosure situations

When true and fair value cannot reasonably be determined, the county property tax roll market value assessment at the time of sale serves as the selling price

Takes effect August 1, 2025