Chapter 3.12
REAL ESTATE EXCISE TAX
Sections:
3.12.030 Additional real estate excise tax.
3.12.010 Imposed--Rate.
A. In accordance with Section 11(l), ESB 4972, 1982 First Special Session, 47th Legislature, a real estate excise tax is imposed.
B. This tax shall be collected upon each sale of real property in the Town at the rate of 0.25 percent of the selling price. (Ord. 131 § 1, 1982)
3.12.020 Use of revenue.
Revenues derived from imposition of this real estate excise tax shall be deposited in a special municipal capital improvements fund. Expenditures from the fund shall be restricted to capital projects for local improvement as determined by the council. (Ord. 131 § 2, 1982)
3.12.030 Additional real estate excise tax.
In accordance with RCW 82.46.035, and in addition to the excise tax on the sale of real property imposed by Section 3.12.010, there is hereby imposed an excise tax on each sale of real property located within the corporate limits of the Town of Woodway at the rate of 0.25 percent of the selling price to be collected by the county as prescribed in RCW 82.46.060. Proceeds from this additional tax shall be used solely for the financing of projects specified in the Capital Facilities Plan element of the Town Comprehensive Plan. (Ord. 98-349 § 1)