Chapter 3.88
REAL ESTATE EXCISE TAX
Sections:
3.88.010 Imposition – Collection.
3.88.015 Additional tax imposed – Collection.
3.88.050 Disbursal of tax proceeds.
3.88.060 Deposits in growth management fund.
3.88.010 Imposition – Collection.
(1) There is levied and imposed an excise tax on each sale of real property within the corporate limits of the city at a rate of one-quarter of one percent of the selling price of the real property.
(2) The excise tax shall be collected from those persons who are taxable by the state of Washington under Chapter 82.45 RCW upon the occurrence of any taxable event within the corporate limits of the city.
(3) The excise tax shall comply with all applicable rules, regulations, laws and court decisions regarding real estate excise taxes as imposed by the state of Washington under Chapter 82.45 RCW. (Ord. 1244 § 1, 1982).
3.88.015 Additional tax imposed – Collection.
(1) There is levied and imposed an excise tax on each sale of real property within the corporate limits of the city at a rate of one-quarter of one percent of the selling price of the real property.
(2) The excise tax so imposed is in addition to the excise tax imposed under MMC 3.88.010(1).
(3) The additional excise tax shall be collected in accordance with MMC 3.88.010(2).
(4) MMC 3.88.010(3) shall apply to this additional excise tax. (Ord. 1820, 1991).
3.88.020 Lien.
The real estate excise taxes herein imposed and interest or penalties thereon shall constitute 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. 1820, 1991; Ord. 1244 § 2, 1982).
3.88.030 Seller’s obligation.
Both excise taxes shall be the obligation of the seller of the real property 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 not to pursue the other. (Ord. 1820, 1991; Ord. 1244 § 3, 1982).
3.88.040 Collection.
Both excise taxes shall be paid to and collected by the Snohomish County treasurer. The treasurer shall act as agent for the city. The treasurer shall cause a stamp evidencing satisfaction of the lien to be affixed to the instrument of sale or conveyance prior to its recording, or to the real estate excise tax affidavit in the case of used mobile home sales. A receipt issued by the treasurer for the payment of the tax shall be evidence of the satisfaction of the lien imposed by MMC 3.88.020, and may be recorded in the manner prescribed for recording satisfactions of mortgages. No instrument of sale or conveyance evidencing a sale subject to the taxes may be accepted by the county auditor for filing or recording until the taxes are paid and the stamp affixed thereto; in case the taxes are not due on the transfer, the instrument shall not be accepted until a suitable notation of this fact is made on the instrument by the treasurer. (Ord. 1820, 1991; Ord. 1244 § 4, 1982).
3.88.050 Disbursal of tax proceeds.
(1) The Snohomish County treasurer shall deposit one percent of the proceeds of the excise tax collected pursuant to MMC 3.88.010 into the Snohomish County current expense fund to defray the costs of collection. No such deduction shall be made from the proceeds of the excise tax collected pursuant to MMC 3.88.015.
(2) The remaining proceeds of both excise taxes shall be remitted to the city on a monthly basis. (Ord. 1820, 1991; Ord. 1244 § 5, 1982).
3.88.060 Deposits in growth management fund.
(1) All proceeds of the excise tax collected pursuant to MMC 3.88.010 and disbursed to the city shall be deposited into the growth management fund. Said proceeds shall be accumulated from year to year, and may be expended at such times as the city council shall by ordinance direct for purposes of making capital improvements for the public benefit, including but not limited to those capital improvements listed in RCW 35.43.040, provided, that after July 1, 1990 revenues generated from the tax imposed under MMC 3.88.010, shall be used primarily for financing capital projects specified in a capital facilities plan element of a comprehensive plan and housing relocation assistance under RCW 59.18.440 and 59.18.450.
(2) All proceeds of the excise tax collected pursuant to MMC 3.88.015 and disbursed to the city shall be deposited into a separate account in the growth management fund. Said proceeds shall be accumulated from year to year, and may be expended at such times as the city council shall by ordinance direct solely for financing capital projects specified in a capital facilities plan element of a comprehensive plan. (Ord. 1820, 1991; Ord. 1244 § 6, 1982).
3.88.070 Effective date.
(1) All provisions of this chapter relating to the excise tax imposed by MMC 3.88.010 shall be effective July 1, 1982.
(2) All provisions of this chapter relating to the excise tax imposed by MMC 3.88.015 shall be effective March 1, 1991. (Ord. 1820, 1991; Ord. 1244 § 7, 1982).