HomeMy WebLinkAbout2335 Increasing the Local Option Real Estate Excise Tax RateORDINANCE NO. ~ ~
AN ORDINANCE AMENDING SECTION 3.28.010 OF CHAPTER 3.28 OF
THE PORT TOWNSEND MUNICIPAL CODE RELATING TO THE LOCAL
OPTION REAL ESTATE EXCISE TAX AND INCREASING THE RATE OF
SAID TAX FROM ONE QUARTER OF ONE PERCENT OF THE SELLING
PRICE ON EACH SALE OF REAL PROPERTY WITHIN THE CORPORATE
LIMITS OF THE CITY BY AN ADDITIONAL ONE QUARTER OF ONE
PERCENT AND PROVIDING FOR A REFERENDUM PETITION ON THE
ADDITIONAL TAX PURSUANT TO THE PROVISIONS OF RCW
82.46.021.
WHEREAS, the Washington State Legislature, as part of the
State's growth management legislation, has provided that local
government's that are required to do comprehensive planning under
the Growth Management Act may impose an additional one quarter of
one percent excise tax on the sale price of real estate and utilize
the revenues of said tax for expenditures on capital facilities
that are the subject of an adopted capital facilities plan, and
WHEREAS, the City of Port Townsend currently imposes a local
real estate excise tax in the amount of one quarter of one percent
of the selling price on each sale of real property within the
corporate limits of the City, and
WHEREAS, the City Council of the City of Port Townsend deems
it necessary and appropriate to impose the additional one quarter
of one percent real estate excise tax to fund capital facilities
projects which are part of the City's adopted Capital Facilities
Plan, Now therefore,
THE CITY COUNCIL OF THE CITY OF PORT TOWNSEND DOES ORDAIN AS
FOLLOWS:
Section 1. Section 3.28.010 of Chapter 3.28 of the Port Townsend
Municipal Code is hereby amended to read as follows:
3.28.010 Imposed--Rate. There is imposed a tax of cnc quartcr
one-half of one percent of the selling price on each sale of real
property within the corporate limits of the city.
Section 2. Any referendum petition filed pursuant to RCW 82.46.021
to repeal this ordinance shall be filed within seven (7) days of
the passage of this ordinance with the office of the City
Clerk/Treasurer, at City Hall, 540 Water Street, Port Townsend,
Washington. Any petitioner seeking repeal of the tax imposed by
this ordinance shall have thirty (30) days after a ballot title is
prepared in response to said petition to secure on petition forms,
and file with the City Clerk/Treasurer, the signatures of not less
than fifteen (15) percent of the registered voters for the city in
support of such petition.
Section 3. This ordinance shall become effective five (5) days
after its passage and publication as provided by law.
Read for the first, second and
City Council for the City of Port
regular meeting thereof, held this
day
by the
at a
1993.
M. Clise, Mayor
Attest. -
David A. Grove, Clerk/Treasurer
Approved as to form-