Facilities owned by state parks located at historical sites

From the 2024 DOR Tax Exemption Study

82.29A.130(22) - Facilities owned by state parks located at historical sites Description All leasehold interests in facilities owned by the state Parks and Recreation Commission and listed on the National Register of Historic Places or the Washington Heritage Register are exempt from leasehold excise tax. Purpose To preserve and protect historic facilities owned by state parks. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.050 $0.052 $0.053 $0.055 Local Taxes $0.044 $0.045 $0.047 $0.048 Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.039 $0.053 $0.055 Local Taxes $0.000 $0.034 $0.047 $0.048 Assumptions - This repeal takes effect July 1, 2024, and impacts nine months of collections in fiscal year 2025. - There were approximately 29 lease agreements subject to paying leasehold excise tax in 2022. - An average of one lease agreement is added per year. Data Sources - Department of Revenue, Leasehold excise tax data - Washington State Parks & Recreation Additional Additional Information Information Category: Individuals