HomeMy WebLinkAbout14-15 - Res. Amending Res. 121-01 Expanding the Use of Real Estate Excise Tax (REET) 2NO. I4-
RESOLUTION I
A RESOLUTION AMENDING RESOLUTION 121-01 EXPANDING THE USE OF
REAL ESTATE EXCISE TAX (REET) 2
WHEREAS, RCW 82.46.035 states "...(2) The legislative authority of any county or city
that plans under RCW 36.70.040 (1) may impose an additional excise tax on each sale of real
property in the unincorporated areas of the county for the county tax and in the corporate
limits of the city for the city tax at a rate not exceeding one -quarter of one percent of the
selling price..."
WHEREAS, RCW 82.46.035 also states that revenues generated by this tax shall be used
for public works projects of a local government for planning, acquisition, construction,
reconstruction, repair, replacement, rehabilitation, or improvement of streets, roads, highways,
sidewalks, street and road lighting systems, traffic signals, bridges, domestic water systems,
storm and sanitary sewer systems, and planning, construction, reconstruction, repair,
rehabilitation, or improvement of parks.
WHEREAS, RCW 82.46.035 was amended in 2011 expanding the uses of the real estate
excise tax for the period of June 30, 2012 until December 31, 2016. A county may use the
greater of one hundred thousand dollars or thirty-five percent of revenue generated by this tax,
but not to exceed one million dollars per year, for operations and maintenance of existing
capital projects as defined above, and counties may use available funds under this section for
the payment of existing debt service incurred for capital projects as defined in RCW 82.46.010.
If a county uses available funds for payment of existing debt service under RCW 82.46.010, the
total amount used for payment of debt service and any amounts used for operations and
maintenance is subject to the limits in this subsection.
NOW THEREFORE BE IT RESOLVED, that the Board of Mason County Commissioners do
hereby expand the uses of the real estate excise tax as allowed in RCW 82.45.035 (7) and
stated above, effective this date.
APPROVED THIS 1 l' DAY OF
ATTEST:
1, ut"
Julie Almanzor, Clerk of the Bard
APPROVED AS TO FORM:
Tim Whitehead, Chief DPA
i
,2015.
BOARD OF COUNTY COMMISSIONERS
MASON COUNTY, WASHINGTON
Randy'Neatherlin, Chair
Tim Sheldon, Commissioner
Terri Jeffreys, C.'� °issi�ner
J:\RESOLUTIONS & ORDINANCES\RESOLUTIONS -ORDINANCES Word Files\2015\Amends uses of REET 2.docx