Washington Administrative Code
Title 458 - Revenue, Department of
Chapter 458-61A - Real estate excise tax
GENERAL INFORMATION AND TAXABILITY OF TRANSFERS
Section 458-61A-111 - Easements, development rights, water rights, and air rights
Universal Citation: WA Admin Code 458-61A-111
Current through Register Vol. 24-06, March 15, 2024
(1) Easements. The real estate excise tax applies to the conveyance of an easement for the use of real property in return for valuable consideration. The real estate excise tax affidavit is required only if the transfer is taxable.
(2) Development rights, water rights, and air rights.
(a) The real estate excise tax applies to the
sale of development rights, water rights, and air rights. The measure of the
tax is the total consideration received in exchange for the transfer of the
right. The real estate excise tax affidavit must be completed for the transfer
of development rights, water rights, and air rights regardless of whether a
taxable sale has occurred.
(b)
"Development rights" means transferable rights to the unused
development on a parcel of land measured by the difference between the existing
development density on the parcel and the density allowed by applicable zoning
laws.
(c)
"Water
rights" means transferable rights to the diversion, extraction or use of
water arising by virtue of the ownership of land located contiguous to surface
water, a water right claim, or the possession of a water right permit or
certificate issued by the department of ecology.
(d)
"Air rights" means the
exclusive undisturbed use and control of a designated air space within the
perimeter of a stated land area and within stated elevations.
Statutory Authority: RCW 82.32.300, 82.01.060(2), and 82.45.150. 05-23-093, § 458-61A-111, filed 11/16/05, effective 12/17/05.
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