Sample Real Estate Excise Tax Ordinance
MRSC
Ordinance No._______
Second Quarter Percent Real Estate Excise Tax for all Cities and Towns that are Planning Under the Growth Management Act
AN ORDINANCE AMENDING SECTION X.YZ OF THE MUNICIPAL CODE, IMPOSING AN ADDITIONAL QUARTER PERCENT REAL ESTATE EXCISE TAX
THE CITY COUNCIL OF THE CITY OF , WASHINGTON, DO ORDAIN AS FOLLOWS:
Section 1: Additional real estate excise tax. Chapter X.YZ of the Municipal Code is amended by the addition of the following section:
In accordance with RCW 82.46.035, and in addition to the excise tax on the sale of real property imposed by Sections X.YZ.010 and X.YZ.020,(*) there is hereby imposed an excise tax on each sale of real property located within the corporate limits of The City of at the rate of one quarter of one percent (0.25%) of the selling price to be collected by the County as prescribed in RCW 82.46.060. Proceeds from this additional tax shall be deposited in a separate account in the municipal capital improvements fund and expended as authorized by law under RCW 82.46.035(5).
Section 2. Effective Date. This ordinance shall take effect days after its passage, approval and publication.
*Note that Sections X.YZ.010 and X.YZ.020 are the codified versions of Sections 1 and 2 in the model ordinance for the imposition of the first quarter percent tax.
PASSED by the City Council at the City of __________, at a regular meeting thereof this _____ day of ______, 199___.
Approved as to form:
___________________
City Attorney
Attest:
___________________
City Clerk