§12.15 - Exchanges of Property
| Jurisdiction | Washington |
§12.15 EXCHANGES OF PROPERTY
The real estate excise tax applies to an exchange of real property for other real property or other tangible or intangible property. If real properties are exchanged, each transfer of real property is individually subject to the tax. The taxable value of each property is the fair market value of the property and not the amount of equity each owner has in its property. WAC 458-61A-109.
The real estate excise tax applies to the exchange even if the federal income tax or...
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