Posted by Larry (WA) on February 26, 2001 at 10:09:37:
I am not a lawyer, but this is what I understand:
The actual amount of real estate excise tax depends on the location of the property. The excise tax varies from county to county, and sometimes within a county. In Spokane County, for the most part, it is 1.78%. This tax is paid everytime property title is transferred, with some exceptions such as foreclosure, real estate broker temporary inventory, putting title in an intervivos trust where the owner remains the sole beneficiary, and a few other cases.
Assigning a real estate purchase contract does not trigger the excise tax.
Hope this helps.