Chapter 3.28
REAL PROPERTY EXCISE TAX
Sections:
3.28.010 Imposition of excise tax on real estate sales.
3.28.030 Disposition and distribution of proceeds.
3.28.040 Taxes lien on the property – Enforcement.
3.28.050 Taxes seller’s obligation – Choice of remedies.
3.28.060 Payment tax – Evidence of payment – Recording.
3.28.070 Capital projects fund.
3.28.010 Imposition of excise tax on real estate sales.
There is hereby imposed an excise tax on each sale of real property in the city of Kittitas as authorized by RCW 82.46.010(1). (Ord. 386 § 1, 1988).
3.28.020 Rate of tax imposed.
The rate of the tax imposed by KMC 3.28.010 shall be one quarter of one percent of the selling price. (Ord. 386 § 2, 1988).
3.28.030 Disposition and distribution of proceeds.
The county treasurer shall place one percent of the proceeds of the tax herewith imposed in the county current expense funds to defray the costs of collection. (Ord. 386 § 3, 1988).
3.28.040 Taxes lien on the property – Enforcement.
The tax hereby imposed and any interest or penalties thereon shall be a specific lien upon each piece of real property sold from the time of sale until the tax is paid, which lien may be enforced in the manner prescribed for the foreclosure of mortgages. (Ord. 386 § 4, 1988).
3.28.050 Taxes seller’s obligation – Choice of remedies.
The tax hereby imposed is the obligation of the seller and may be enforced through an action of debt against the seller or in the manner prescribed for the foreclosure of mortgages. Resort to one course of enforcement is not an election to pursue the other. (Ord. 386 § 5, 1988).
3.28.060 Payment tax – Evidence of payment – Recording.
The tax herein imposed shall be paid to and collected by the county treasurer. The county treasurer shall cause a stamp evidencing satisfaction of the lien to be affixed to the instrument of sale or conveyance prior to recording or to the real estate excise tax affidavit in the case of used mobile home sales. A receipt issued by the county treasurer for the payment of the tax hereby imposed shall be evidence of the satisfaction of the lien imposed herein and may be recorded in the manner prescribed for recording satisfaction of mortgages. No instrument of sale or conveyance evidencing a sale subject to the tax may be accepted by the county auditor for filing or recording until the tax is paid and the stamp affixed thereto; in case the tax is not due on the transfer, the instrument shall not be accepted until suitable notation of this fact is made on the instrument by the county treasurer. (Ord. 386 § 6, 1988).
3.28.070 Capital projects fund.
(1) The capital projects fund 301 shall be established.
(2) All revenues generated from the real estate excise tax (REET) shall be deposited in the capital projects fund.
(3) Monies may be transferred, amount to be determined annually during the budget process, from other funds to augment the capital projects fund.
(4) The capital projects fund is hereby designated to assist in funding capital projects as identified in the City of Kittitas Ten-Year Plan of Action for the Revitalization of the Community, or emergency projects as they arise. (Ord. 03-717 §§ 1 – 4).