The bill aims to enhance the administrative capabilities of county assessors and treasurers in Washington State by increasing the Real Estate Excise Tax (REET) fees from $5.00 to $20.00 per transaction. This increase is intended to create administrative assistance funds specifically for the county assessor and treasurer offices, which will be used exclusively for their statutory obligations. The bill also establishes new sections in chapters 36.33 and 36.40 of the Revised Code of Washington (RCW) to create these administrative assistance funds, which will not be subject to appropriation or budget constraints by the county legislative authority.

Additionally, the bill amends RCW 82.45.180 to adjust the distribution of collected fees and taxes, ensuring that a portion of the increased fees is allocated to the newly established administrative assistance funds. The county treasurer will be responsible for collecting the new fee and distributing the funds accordingly, with 65% going to the county assessor's fund and 35% to the county treasurer's fund. The bill is set to take effect on September 1, 2025.

Statutes affected:
Original Bill: 82.45.180