Chapter 4.72
ADDITIONAL REAL ESTATE EXCISE TAX

Sections:

4.72.010    Imposed.

4.72.020    Rate.

4.72.030    Administration and collection.

4.72.040    Use of revenues.

4.72.050    Expiration.

4.72.010 Imposed.

There is hereby imposed an additional excise tax on the sale of real property within the corporate limits of the city of Bellingham as authorized by RCW 82.46.010(1) and 82.46.035 upon every taxable event as defined by, and upon those persons taxable by the state under Chapter 82.45 RCW. [Ord. 10273 § 1, 1991; Ord. 9676 § 1, 1987; Ord. 9270 § 1, 1983].

4.72.020 Rate.

The rate of the tax imposed by BMC 4.72.010 shall be one-half of one percent of the selling price of the property subject to tax. [Ord. 10273 § 1, 1991; Ord. 9270 § 2, 1983].

4.72.030 Administration and collection.

The administration and collection of the tax imposed by BMC 4.72.010 shall be in accordance with RCW 82.46.030. [Ord. 9270 § 3, 1983].

4.72.040 Use of revenues.

Revenues derived from the tax imposed pursuant to BMC 4.72.010 shall be deposited in a separate fund, to be known as the second quarter real estate tax fund, and used solely for financing capital projects specified in a capital facilities plan element of the comprehensive plan. Utilization of the proceeds of the tax shall be reviewed by the city council annually. [Ord. 2003-08-058; Ord. 10273 § 1, 1991; Ord. 9676 § 4, 1987; Ord. 9270 § 4, 1983].

4.72.050 Expiration.

The tax authorized pursuant to BMC 4.72.010 shall continue in effect until repealed, amended, or otherwise superseded. [Ord. 9676 § 5, 1987; Ord. 9270 § 5, 1983].