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Policy Points: Real Estate Excise Tax

In 2023, NAIOP Washington State successfully defeated a bill during the legislative session that would have increased the real estate excise tax (REET). We anticipate similar legislation during the 2024 Washington State Legislative Session. During this session, REET may be rebranded as a “transfer tax.”  While we were previously successful in our efforts to stop a REET increase from moving forward, NAIOPWA’s Government Affairs team is actively engaged to defeat its passage once again.

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NAIOPWA 2023 State Legislature Update - Jan 13

NAIOP Washington State 2023 Legislative Report - Week 1

Greg Hanon, Communico

The 2023 session of the Washington State Legislature convened on January 9 for a 105-day legislative session. This is the first since 2020 to completely return to Olympia for both committee hearings as well as floor action.  One addition to the legislative process is the complete integration of hybrid legislative hearings allowing for both in person testimony as well as remote testimony allowing individuals who cannot make the trip to Olympia to participate in hearings from around the state.

Per tradition, the first few days were dedicated to the organization of the legislature, the swearing in of public officials, as well as a state of the state address from Governor Inslee in which he presented his priorities for the legislative session.  Governor Inslee outlined several policies including significant increases in spending on housing, homelessness, behavioral health, and education.  He also advanced policies on gun control and abortion rights.

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Washington State Legislature 2021 Report – Week 4

We're beginning the fifth week of the session, and bills must be passed out of policy committees in one week's time--Monday, Feb. 15, is the deadline.

The early action COVID relief package is expected to pass the Senate this week (HB 1368). Both chambers now have transportation packages in play and a capital gains bill has been introduced in the House. 

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NAIOPWA Requests Extension on Implementation of State Construction Code | MFTE Task Force

graphic with NAIOPWA logo and COVID 19 response in text on blue textured background

In support of our 1,000+ association members, the commercial real estate business industry and the community at large, NAIOP Washington State has submitted an official request to Governor Jay Inslee and to the State Building Code Council requesting a 6-month delay in implementation of new building codes, to January 1, 2021.

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Opportunity Zones [February 2019 Breakfast Recap]

Stack of three photos showing speakers, audience at February NAIOPWA breakfastWednesday’s meeting started with the passing of the gavel and official induction of Scott Mathews as the 2019 President of NAIOP Washington State. Scott is the Senior Director, Acquisitions & Residential Development, for Vulcan, Inc. Much gratitude was given to Tony Toppenberg of Turner Construction Company for his service this past year.

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Emerging Markets in the Puget Sound Region [May Breakfast Recap]

three men hold an oversized checkOn Wednesday morning, we heard from Seattle’s neighboring cities that are emerging markets in our area (and don’t have a head tax!).

Before the program started, there was a recap on the Spring Property Tour and a Fred Hutchison representative gave their appreciation to everyone that came out earlier in the month. NAIOP WA State then presented a generous donation for $4,000 to the cancer research study organization.

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Tax Reform: What it means for CRE

Capitol Building at night

As reported by NAIOP Corporate, the tax reform legislation recently passed into law by Congress has significant beneficial impacts for the commercial real estate industry. Among other changes, the legislation will:

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