2nd Narrows bridge

From the 2024 DOR Tax Exemption Study

82.45.190 - Second Narrows Bridge Description Provides a real estate excise tax exemption for the transfer of state route 16 corridor transportation systems and facilities constructed under a public-private transportation initiative. Purpose As originally planned, this exemption enabled the transfer of the newly constructed second bridge at the Tacoma Narrows to the private operator of the bridge without incurring real estate excise tax. More broadly, this exemption applies to any sale of transportation systems and facilities along the state route 16 corridor, including capital improvements and additions to the corridor’s infrastructure, roads, bridges, equipment, park and ride lots, transit stations, transportation management systems, and other related transportation investments. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this exemption would not increase revenues because currently no exemption taxpayers use it. Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $