WA HB2027

Imposes a new state real estate transfer tax beginning January 1, 2027 on residential property sales over $3,051,000, with rates of 1% ($3,051,000-$5,026,000), 2% ($5,026,000-$10,026,000), and 3% (over $10,026,000)

Distributes new tax revenue to four accounts: 40% for developmental disabilities housing, 40% for permanent supportive housing operations, 10% for housing stability services, and 10% for farmworker housing through the Washington Housing Trust Fund

Creates the developmental disabilities housing and services account to fund housing acquisition, construction, operations, rental subsidies, and housing-related services for people with developmental disabilities

Authorizes counties beginning July 1, 2025 to impose graduated real estate excise taxes (0.20-0.60% depending on sale price) as an alternative to existing flat-rate local taxes, with rural counties allowed slightly higher rates on lower-value properties

Effective date of January 1, 2026, with the legislation titled the "affordable homes act"