04/30/2026
Washington State and Snohomish County would benefit from an adjustment of the exemption amounts.
Republican lawmakers are pushing to reform the capital gains tax in a move that could benefit millions of homeowners. Home sellers currently owe taxes on profits above $250,000 for single filers and $500,000 for married couples, thresholds unchanged since 1997 even as home prices have climbed more than 260%. Sen. Ted Cruz is proposing to index capital gains to inflation, reducing the taxable portion of any gain, while others want to double the exemption caps entirely. The current structure is also blamed for keeping homeowners locked in place, choosing to hold rather than sell and face a large tax bill.
