BLUE STATE BLUES: Washington’s ‘Millionaire Tax’ sends luxury home listings surging 65% overnight.
Following the enactment of the new 9.9% income tax (known as the “Millionaire Tax,” or SB 6346), there’s been an increase in home listings in Washington State. Data from the Northwest Multiple Listing Service shows that the number of homes priced at $2 million or more jumped by 65% the day after Democrats passed the bill compared to the same data last year.
While the total number of high-end homes is relatively small, realtors previously told The Center Square that several clients listed their properties specifically because of the new tax.
The data shows that on March 12, the day after the tax bill passed, there were 53 high-value listings compared to just 32 on that same day in 2025. When the bill was first introduced in February, the number of listings was also higher than the previous year.
The numbers aren’t huge, but neither are the number of people in Washington’s new tax bracket.
It’s an easy call that SB 6346 will cost Washington revenue — but, hey, they’ll have fewer of those nasty high-earners.