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REET IN LIEU OF "SECOND HALF" SALES TAX <br />Quick Summary <br />Any county that has not imposed the "second half" sales tax may impose an additional excise tax up <br />to 0 5% upon all real estate sales <br />Revenues are unrestricted and may be used for any lawful government purpose <br />Almost all counties have imposed the "second half' sales tax, which will likely generate more <br />revenue <br />• Does not require voter approval but is subject to possible referendum <br />RCW: 82.46.010(3) <br />Any county that is not levying the optional 0.5% "second half" sales tax (see "Optionol" Sales Tax/Second <br />Half -Cent) may levy an additional real estate excise tax up to 0.5% upon all real estate sales within the <br />unincorporated area only (RCW 82.46.010(3)). (Cities have similar authority within the incorporated areas.) <br />However, almost all counties have levied the "second half" sales tax and are not eligible for this revenue source. <br />This additional REET authority does not require voter approval. However, the imposition of this tax, a change in <br />rate, or a repeal of the tax may be subject to referendum (RCW 82.46.021). <br />From a financial standpoint, the 0.5% second half sales tax will probably bring in more revenue than this <br />additional 0.5% real estate excise tax. <br />Use of Revenues <br />The revenues are unrestricted and may be used for any lawful governmental purpose (unlike REET . and <br />REET 2, which are limited to capital projects defined by statute and related maintenance). <br />Revenue Guide for Washington Counties I NOVEMBER 2020 111 <br />