Any physical improvement to single-family dwellings upon real property shall be exempt from taxation for the three assessment years subsequent to the completion of the improvement to the extent that the improvement represents thirty percent or less of the value of the original structure. A taxpayer desiring to obtain the exemption granted by this section must file notice of his intention to construct the improvement prior to the improvement being made on forms prescribed by the department of revenue and furnished to the taxpayer by the county assessor: PROVIDED, That this exemption cannot be claimed more than once in a five-year period.

     The department of revenue shall promulgate such rules and regulations as are necessary and convenient to properly administer the provisions of this section.

[1972 ex.s. c 125 § 3.]

NOTES:

     Severability -- 1972 ex.s. c 125: See note following RCW 84.40.045.