Manufactured home communities

From the 2024 DOR Tax Exemption Study

82.45.010(3)(r) - Manufactured home communities Description A qualified sale of a manufactured or mobile home community that takes place before January 1, 2030, is not subject to state or local real estate excise tax. Purpose Encourage and facilitate the preservation of existing manufactured home communities. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.093 $0.108 $0.119 $0.143 Local Taxes $0.024 $0.027 $0.031 $0.037 Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.097 $0.119 $0.143 Local Taxes $0.000 $0.025 $0.031 $0.037 Assumptions - This repeal takes effect July 1, 2024, and impacts 11 months of collections in fiscal year 2025. - Growth rate mirrors the REET growth rate reflected in the Economic and Revenue Forecast Council's March 2023 forecast. - The department electronically receives transaction-level REET data from 36 counties. Only four counties reported these transactions so there is no estimated impact for the three counties not reporting REET data electronically. - Property sales price growth mirrors the