HomeMy WebLinkAbout3418Ordinance No. 3418
["Beginning July 1, 1998"]
(Amending or Repealing Ordinances)
Amended by Ord. 3420
Repealed by Ord. 3592
ORDINANCE NO..3 Y I E
AN ORDINANCE of the City Council of the City of
Kent, Washington, authorizing the assessment and collection
of a Real Estate Excise Tax of one quarter of one percent
(1/4%) for the purpose of financing capital projects specified
in the Capital Facilities Plan element of City's
Comprehensive Plan.
WHEREAS, RCW 82.46.010 authorizes municipalities such as the City of
Kent to impose an excise tax of one-quarter of one percent on the sales price of real
property sold within the City; and
WHEREAS, pursuant to Ch. 82.46 RCW, revenues generated from this tax
shall be used for financing capital projects specified in the capital facilities plan element
of the City's Comprehensive Plan; and
WHEREAS, the City Council desires to impose such a tax for financing of
capital facilities in the City of Kent; NOW THEREFORE,
THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DOES
HEREBY ORDAIN AS FOLLOWS:
SECTION 1. There is hereby added a new chapter, Chapter 3.24 entitled
"Real Estate Excise Tax" as follows:
Rea[ Estate Excise Tax
Chapter 3.24 Real Estate Excise Tax
Sec. 3.24.010. Levied - amount. Pursuant to RCW 82.46.010, there is hereby
imposed an excise tax on each sale of real property within the corporate limits of the City.
The rate of the tax imposed under this chapter shall be one-quarter of one percent of the
selling price on each sale of real property. The taxes imposed under this chapter shall be
collected from persons who are taxable by the State under Ch. 82.45 RCW and Ch. 458-61
WAC, upon the occurrence of any taxable event, as defined therein, within the corporate
limits of the City.
Sec. 3.24.020. Consistency with state tax. The taxes imposed under this chapter
shall comply with all applicable rules, regulations, laws, and court decisions regarding real
estate excise taxes imposed by the State under Ch. 82.45 RCW and Ch. 458-61 WAC. The
provisions of those chapters shall apply as though fully set forth herein.
Sec. 3.24.030. Use of tax proceeds. All proceeds received by the City from the
taxes imposed under this chapter shall be used by the City for financing capital projects
specified in the capital facilities plan element of the City's comprehensive plan pursuant
to Ch. 82.46 RCW.
Sec. 3.24.040. Collection and administration. The taxes imposed under this
chapter shall be paid to and collected by the Treasurer of King County in the manner
provided by and consistent with State and local law. The Treasurer of King County shall
act as agent for the city for the purposes of collection and administration of the tax.
SECTION 2. - Severability. If any one or more sections, subsections, or
sentences of this Ordinance are held to be unconstitutional or invalid, such decision shall
not affect the validity of the remaining portion of this Ordinance and the same shall remain
in full force and effect.
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SECTION 3. - Effective Date. This ordinance shall take effect and be
force thirty (30) days from and after its passage, approval and publication as provided
law.
ATTEST:
BRENDA JACOBYR. O1TY CLERK
APPROVED AS TO FORM:
RO R A. LUBOVICH, Cl ATTORNEY
PASSED: day of Lft GG`C. 1998.
APPROVED: _Q2` day of '1998.
PUBLISHED: .5 day of 2,- 1998.
I hereby certify that this is a true copy of Ordinance No. .341/ t , passed
by the City Council of the City of Kent, Washington, and approved by the Mayor of the
City of Kent as hereon indicated.
AL)
BRENDA JAC B , CITY CLERK
P:U,ANIORL*INANC\realuvtetetax.ord. doc
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