San Juan County Land Bank
The San Juan County Land Bank Tax also known as Real Estate Excise Tax (REET) is a tax authorized by the voters of San Juan County pursuant to the enablement and requirements of Chapters 82.45 and 82.46 RCW:
Is paid by the purchaser at a rate of 1% of the selling price
Levied on each sale of real property in the county beginning December 6, 1990 for a 12-year period
Proceeds to be used exclusively for preserving the natural heritage of the San Juan Islands
Was renewed for an additional 12 years by a nearly 73% majority in 1999
The purpose of the San Juan County Land Bank is to preserve in perpetuity, areas in the County that have environmental, agricultural, aesthetic, cultural, scientific, historic, scenic, or low-intensity recreational value, and to protect existing and
future sources of potable water.