Finance
Washington's Real Estate Excise Tax (REET) uses a tiered rate structure. For sales above $3 million, the rate is:
A1.28%
B2.75%
C3.00%✓ Correct
D3.25%
Explanation
Washington's tiered REET rates as of 2023 top out at 3.00% on the portion of the sale price exceeding $3 million, making Washington's excise tax one of the higher ones for luxury residential sales.
Related Washington Finance Questions
- Under ECOA (Equal Credit Opportunity Act), a Washington lender may NOT deny credit based on:
- A Washington borrower's ARM has a 2/6 cap structure. The initial rate is 4%. The maximum rate over the life of the loan is:
- The Truth in Lending Act (TILA) right of rescission allows a borrower to cancel a refinance mortgage on their primary residence within:
- Under Washington law, a deed of trust lender who completes non-judicial foreclosure (trustee's sale) generally:
- A Washington first-time homebuyer uses the WSHFC 'Home Advantage' program. This program typically requires the buyer to:
- In Washington, a deed of trust involves how many parties?
- Under Regulation Z (TILA), Washington lenders who advertise a specific loan interest rate must also disclose the:
- A Washington mortgage that requires a large lump-sum payment at the end of the loan term is called a:
Practice More Washington Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Washington Quiz →