[WSBAPT] Excise tax and gift supplemental

[Kailei Feeney]

Less than assessed?

Yes, in King County this comes up regularly. I have escalated to get someone to explain the gift supplement is not appropriate. I have pushed back and instead provided a statement, by me, that simply articulated the facts and clarified also what there was no gift of equity/ the gift supp is not appropriate.

I have had another one, a quit claim deed, related to unmarried people refinancing and removing a person from the loan and title. Excise based on amount of loan and (King, again) county requiring a PSA to "prove" it was an arm's length transaction. It was not but again, the gift supp they were trying to require me to complete was not appropriate.

Based on the two above experiences, if there is anything odd seeming (by county standards) when I'm sending a deed in, I've taken to providing a narrative on letterhead when I send the deed and strongly requesting I am contacted to discuss before someone (arbitrarily) rejects and proposes made up requirements for "the fix."

I recognize that these transactions get flagged if less than assessed value but it's not the county's role to push parties to make false statements about gifts. Frustrating.

Kailei
Kailei B. Feeney
Attorney-at-Law
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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Marcus Fry
Sent: Friday, April 24, 2020 8:57 AM
To: WSBA Probate & Trust Listserv (wsbapt at lists.wsbarppt.com) <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Excise tax and gift supplemental

Arms-length negotiation of sale of real property.  Purchase price is less than excise tax.  County is requiring a gift supplement because purchase is below County tax assessed value.

This seems crazy.  Anyone experience this?

Marcus J. Fry
Lyon, Weigand & Gustafson, P.S.

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