Other Languages(1) The twenty mill limitation upon property taxes which is provided for in Initiative No. 44 does not apply to taxes levied by port or public utility districts. (2) The legislature, notwithstanding Initiative No. 44, may reduce or eliminate the authority of port or public utility districts to levy property taxes.
1. The real estate excise tax does not apply to a transfer of real estate by deed from a mortgagee to the mortgagor in lieu of foreclosure. 2. Same: The tax does apply to the immediate resale of the property by the mortgagee to the mortgagor under a contract of sale. 3. Same: The fact that the two transfers constitute an over-all agreement between the parties does not affect the tax consequences.
(1) The maximum amount of a given school district's excess property tax levy under § 4(2), chapter 325, Laws of 1977, 1st Ex. Sess., for collection during the following calendar year, is to be computed solely on the basis of the district's basic education allocation for the last completed school year prior to the date of the levy. (2) Explanation of the circumstances under which a school district, pursuant to § 4(4), chapter 325, supra, may be permitted to exceed the levy lid established by § 4(2) thereof, and how the modified levy lid for such a district is to be determined.
The "true and fair value of property in money" for property tax valuation purposes is its market value or the amount of money a buyer willing, but not obligated to buy would pay for it to a seller willing, but not obligated to sell. In arriving at a determination of such value the assessing officer can consider only those factors which can within reason be said to affect the price in negotiations between a willing purchaser and a willing seller, and he must consider all of such factors.
Criteria to be applied in determining maximum regular property tax levy which may be made by a port district not having levied taxes in the previous year under the 106% statutory limitation contained in RCW 84.55.010.
The increased rate of property taxation for public health work in each county which is provided for by RCW 70.12.010, as amended by § 1, chapter 291, Laws of 1975, 1st Ex. Sess., is applicable both to 1975 taxes to be collected in 1976 and 1976 taxes to be collected in 1977.
Under § 2, chapter 243, Laws of 1975, 1st Ex. Sess. (RCW 28A.58.0461) proceeds derived from the sale of school district real property may not be used to pay for the acquisition of other such property.
1. The property tax levy rate referred to in § 2 (2) means the same actual millage rate as applied last year by that taxing district, rather than the effective rate upon the property of those taxes levied the preceding year. 2. In calculating the additional dollar amount in § 2 (2) allowed for the increase in assessed value resulting from new construction, revaluation, etc., the assessment level of the preceding year should be used rather than a current increased level. 3. When property passes into exempt ownership; has been destroyed; annexed to an adjoining district or loses value for any reason, such losses must be subtracted from any growth in assessed valuation (attributable to improvements, construction, revaluations, or annexations) before the increase (if any) to be used in computing the additional dollar amount for purposes of subsection (2), (§ 2, chapter 174, Laws of 1965, Ex. Sess.) can be known. However, in the event that such losses exceed such growth the result will simply be that the district in question will have no subsection (2) additional dollar amount factor for this particular year; the dollar amount factors described in other subsections of § 2, chapter 174, Laws of 1965, Ex. Sess., would be unaffected by such a circumstance.
The board of trustees of a library district established pursuant to chapter 27.12 RCW has the power to dispose by sale of surplus property belonging to the library district.
(1) Where a third class city purchases tax title property from a county for the amount of general taxes, the sale of the property by the city to a private individual is subject to all local improvement assessment liens whether perfected prior to or during the time the county held title. (2) If the city had acquired title through its own foreclosure and sells to a private individual the lien remains as to all outstanding local improvement assessments not foreclosed but is discharged as to those which were foreclosed. (3) The city may sell such property for whatever price it wishes.