Executive/Council Action Form (ECAF)
ITEM TITLE:
Title
Ordinance 26-064, relating to revenue and finance; establishing the Real Estate and Property Tax Administration Assistance Fund and adding a new Chapter 4.128 SCC
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DEPARTMENT: Council
ORIGINATOR: Councilmember Peterson
EXECUTIVE RECOMMENDATION: N/A
PURPOSE: To create a fund for the maintenance and operation of an annual revaluation system for property tax valuation and of an electronic processing and reporting system for real estate tax affidavits
BACKGROUND: RCW 82.45.180 requires the Treasurer to maintain a “special real estate and property tax administration assistance account”. The funds are to be used for property tax administration and technology improvements, and are split evenly between the Assessor’s Office and the Treasurer’s Office, and funds are received through a $5.00 fee that is currently being collected as part of the excise tax on real estate sales.
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