In This Issue
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Welcome to
Cascade Title!
LeeRoy Parcel Manager/Vice President

Escrow Officer/LPO
Celinda Northrup
Escrow Officer/LPO
Theresa Byrd-Satcher 
Escrow Officer/LPO
Diane Kenneway 
Escrow Closer/Assistant
December 2019

The end of 2019 is just around the corner, and not only are we looking forward to the challenges and opportunities of a new year, but of a brand new decade!
As we look back on this past year, we are so grateful for the pleasure of working and serving in this wonderful community, and we are grateful to our terrific customers.  Thank you for trusting us with your business in 2019.  Know that as we move into this new year (and decade!) it is our number one goal to bring you the very best in title and escrow service.  Let us know how we can better serve you.  We wish you and yours a very Merry Christmas and a Happy 2020! 

Your friends at Cascade Title Company 

Senate Bill 5998 will take effect on January 1, 2020 creating a graduated real estate excise tax scale. 
home_growth_sale.jpg Currently the State of Washington's excise tax rate is 1.28%.  On and after January 1, 2020 the State's excise tax will be on a graduated scale as follows:
1.1% for portion of sales prices up to and including $500,000.00  
1.28% for portion of sales prices over $500,000.00 up to and including $1,500,000.00
2.75% for portion of sales prices over $1,500,000.00 up to and including $3,000,000.00
3% for portion of sales prices greater than $3,000,000.00
The real estate excise tax for agricultural and timberlands will remain at 1.28%.
Please note that the above rates are for the State's percentage.  Locally imposed taxes will raise these percentages.  The current local rates are unchanged by the new law and will be added to the State's percentages for the actual Excise Tax amount.
The other significant change occasioned by SB 5998 is the time frame for determining whether the transfer of a "controlling interest" occurred.  The legislation 1) extends the time period for determining whether a controlling interest has been transferred from 12 months to 36 months; and 2) requires that the Secretary of State adopt rules requiring annual reporting for the transfer of at least one-third of a controlling interest in an entity.
Lastly, below is a link to the Washington State Department of Revenue's website that includes forms and a REET calculator. 

January Business After Hours
Magic is in the Air - join us for a night of magic, drinks, food & prizes at the January Business After Hours hosted by Specialty Rents! After Hours events are a great opportunity for socializing, sampling local food and beverages and connecting with local businesses and people. Bring your best magic to this event to win the grand prize! Click here for more information or to purchase tickets.
Cascade Title Company | 1425 Maple | Longview, WA 98632
Phone: (360) 425-2950 | Fax: (360) 425-8010 | Toll Free: (877) 425-2950