Megan Lin Counsel

The Washington State Legislature kicked off its 2023 legislative session with a big focus on affordable housing initiatives. Five significant affordable housing bills were introduced this session that propose major changes ranging from eliminating local design review boards for housing development permits to modifying the multifamily tax exemption to creating a “housing benefit district” within city boundaries to boost the acquisition and development of affordable housing.

Transfers of real property to certain qualifying entities will no longer be subject to real estate excise tax in Washington State, effective on January 1, 2023.