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HomeMy WebLinkAbout1985-2921 IMPOSING AN EXCISE TAX ON THE SALE OF REAL ESTATE • - = • ORDINANCE NO 2 9 2 1 • AN ORDINANCE relating to funds and accounts; imposing an excise tax on the sale of real estate; providing for the collection and distribution thereof; ler limiting the use of proceeds therefrom; fixing a penalty for late payment; enacting Chapter 3.79, "Real Estate Excise Tax", as a new Chapter of the • City of Yakima Municipal Code; and declaring an emergency. WHEREAS, the City of Yakima has applied for financial assistance for various public works projects pursuant to the provisions of Chapter 446 and 471, Laws of 1985, and WHEREAS, in order to be eligible for such financial assistance, the City must impose a real estate excise tax in accordance with the provisions of Chapter 82.46 RCW at a rate of at least one-quarter of one percent, which tax must be effective as of December 31, 1985, and WHEREAS, the City Council hereby finds and declares that the circumstances recited above constitute an emergency 'so as • . to authorize December 31, 1985, as the effective date of this ordinance, as contemplated by Article VI, Section 2, of the Yakima City Charter, now, therefore, • BE IT ORDAINED BY THE CITY OF YAKIMA: Section 1. Chapter 3.79, "Real Estate Excise Tax", and the various sections thereof, are hereby enacted as a new Chapter and new Sections of the City of Yakima Municipal Code to read as follOws: "Chapter 3.79 REAL ESTATE.EXCISE TAX • 3.79.010 Real Estate 'Excise Tax Imposed. Com- • • mencing December•31, 1985,. there is hereby imposed a tax of one-quarter of one percent of the selling price on each sale of real property within the City of Yakima. 3.79.020 Taxable Events. The tax imposed by this . Chapter shall be collected from persons who •are taxable 11i by the state under Chapter 82.45 RCN. upon the occurrence of any taxable event within the City of Yakima. 3.79.030 Consistency With State Tax. The taxes imposed by this Chapter shall comply with all applicable rules, regulations, laws.and court decisions regarding real estate excise taxes as imposed•by the state' under . . Chapter 82.45 RCW, all of which shall apply as though fully set forth herein to the extent that they are not inconsistent with this Chapter. • .• 3.79.040 Distribution Of Tax Proceeds And Limiting The Use Thereof. The Yakima County Treasurer shall place one percent of the proceeds of the taxes imposed by this Chapter in 'the County current expense fund to defray costs of collection. The remaining proceeds from the taxes imposed by this Chapter shall be distributed to the City monthly and shall be placed in the City's Cumulative Reserve Fund For Capital Improvements and expended there- from for public works projects as provided by Chapter 3.80 of the City of Yakima Municipal Code, including those listed in RCW 35.43.040. This Section shall not limit the existing authority of the City to impose special assessments on property benefited thereby in the manner prescribed by law. 3.79.050 Seller's Obligation. The taxes imposed by this Chapter are the obligation of the seller and may be enforced through the action of debt against the seller or in the manner prescribed for the foreclosure of mort- gages. 3.79.060 Lien Provisions. The taxes imposed by this Chapter and any interest or penalties thereon con- stitute a specific lien upon each piece of real property sold from the time of sale or until the tax is paid, which lien may be enforced in the manner prescribed for the foreclosure of mortgages. Resort to one course of enforcement is not an election not to pursue the other. 3.79.070 Notation Of Payment. The taxes imposed by this Chapter shall be paid to and collected by the Yakima County Treasurer, who shall act as agent for the City of Yakima for such purposes. The Yakima County Treasurer shall cause a stamp evidencing *atisfaction of the lien to be affixed to the instrument of sale or conveyance prior to its recording or to the real estate excise affi- davit in the case of used mobile home sales. A receipt issued by the Yakima County Treasurer for the payment of the tax imposed by this Chapter shall be evidence of the satisfaction of the lien imposed in Section 3.79.060 of this Chapter 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 tax may be accepted by the Yakima County Auditor for filing or recording until the tax is paid and the stamp affixed thereto; in case the tax is not due on the trans- fer, the instrument shall not be accepted until suitable notation of this fact is made on the instrument by the Yakima County Treasurer. 3.79.080 Date Payable. The tax imposed by this Chapter shall become due and payable immediately at the time of sale and, if not so paid within thirty days thereafter, shall bear interest at the rate of one percent per month from the time of sale until the date of payment. 3.79.090 Excessive And Improper Payment. If, upon written application by a taxpayer to the Yakima County Treasurer for a refund, it appears a tax has been paid in excess of the amount actually due or upon a sale or other transfer declared to be exempt, such excess amount or improper payment shall be refunded by the Yakima County Treasurer to the taxpayer; provided, that no refund shall be made unless the state has first authorized the refund of an excess amount or an improper amount paid, unless such improper amount was paid as a result of a miscalcu- lation. Any refund made shall be withheld from the next monthly distribution to the City. 3.79.100 Severability. If any provision of this Chapter or its application to any person or circumstance is held invalid, the remainder of the Chapter or the application of the provision to other persons or circum- stances is not affected." -2- 4 Section 2. This ordinance is one to provide for the immediate preservation of the public peace, property, health, safety and welfare of the people of the City of Yakima and an emergency is hereby declared to exist and this ordinance shall be in full force and effect immediately upon its passage, approval and publication as provided by law and by the City Charter. PASSED BY THE CITY COUNCIL, signed and approved this ritik day of December, 1985. Oer /A ayor ATTEST: • City Clerk Publication Date DEC 2 0 1985 Effective Date DEC 21 1985 • • 410 -3- •