Are there any differences to consider in living in Oregon vs. Washington?
• Buyers should be aware that Oregon currently has approximately a 9% personal income tax rate. Washington does not have any personal state income tax. Residents who live in Washington and work in Oregon are still required to pay Oregon state income tax. • Oregon has no sales tax on purchases, Washington does. • Traveling over the Hood River Toll Bridge can become costly if you work or play a lot on the other side of the river from where you live. • When a home owner sells a piece of property in Washington they will be responsible for paying an Excise Sales Tax of 1.28% or 1.53% on the sale price depending on where the property being sold is located. The title company will calculate this cost and apply it to the seller’s expenses at closing. • The State of Washington requires that an addendum be signed by both parties stating that a sale may be cancelled by the Buyer if the Buyer is unable to obtain affordable insurance for the property. Affordable is defined as an annual cost not to e