Sample Real Estate Excise Tax Ordinance

MRSC

Second Quarter Percent Real Estate Escise Tax for all counties that are planning under the Growth Management Act

ORDINANCE NO._______

AN ORDINANCE AMENDING SECTION X.YZ OF THE ______________COUNTY CODE, IMPOSING AN ADDITIONAL QUARTER PERCENT REAL ESTATE EXCISE TAX

THE BOARD OF COMMISSIONERS OF ______________ COUNTY, WASHINGTON, DO HEREBY ORDAIN AS FOLLOWS:

Section 1: Additional real estate excise tax. Chapter X.YZ of the ______________ County 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, [ Note that sections X.YZ.101 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.] there is hereby imposed an excise tax on each sale of real property located within the official boundary of ______________ County 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 county 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.

PASSED by the Board of Commissioners of ______________ at a regular meeting thereof this ___ day of ___, 199__.