WeVote
Log In

Bill

Bill

SB 5395

Increasing the real estate technology fee dedicated to the maintenance and operation of property tax and real estate excise tax electronic processing, reporting, and revaluation systems.

2023-2024 Regular Session Introduced by John Lovick and 1 co-sponsor

Bill increases Washington's real estate technology fee to fund modernization of property tax and excise tax processing systems.

By resolution, reintroduced and retained in present status.
0
WeVote Research Nonpartisan
Bill Summary · SB 5395

Legislative bill overview

SB 5395 increases the real estate technology fee in Washington State, which is a charge associated with property transactions. The revenue generated would be dedicated to maintaining and upgrading the electronic systems used for processing property tax assessments, real estate excise tax reporting, and property revaluation across the state.

Why is this important

Property tax and real estate excise tax systems are critical infrastructure that counties and the state rely on to assess property values and collect tax revenue. Without adequate funding for technology modernization, these systems can become outdated, leading to processing delays, errors in tax assessments, and inefficiencies that affect both property owners and government operations.

Potential points of contention

  • Fee increase burden: Homebuyers and real estate sellers may oppose higher transaction fees, viewing them as additional costs in an already expensive real estate market
  • Fee transparency and use: Questions about whether the dedicated revenue is sufficient, appropriately spent, and whether fees should increase rather than finding alternative funding sources
  • Regressivity concerns: Fees on real estate transactions disproportionately affect lower and middle-income homebuyers and renters (through higher housing costs), raising equity questions

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.