(1) The 106% limitation on regular property taxes imposed by RCW 84.55.010 does not apply to the taxes levied by a city for the maintenance of its local improvement guaranty fund under RCW 35.54.060. (2) Property taxes levied by a city for the maintenance of its local improvement guaranty fund, however, may not in any year exceed five percent of the outstanding obligations guaranteed by the fund and further may not, in any event, be in excess of a sum which is sufficient, with other sources of the fund, to pay warrants issued against the fund during the preceding fiscal year and establish a balance therein.
AGO 1977 NO. 9 > Mar 25 1977
TAXATION ‑- PROPERTY ‑- CITIES AND TOWNS ‑- LOCAL IMPROVEMENTS ‑- APPLICABILITY OF STATUTORY TAX LIMITATION TO CERTAIN MUNICIPAL PROPERTY TAXES