Chapter 3.11
EXCISE TAX ON SALE OF REAL PROPERTY

Sections:

Article I. Real Estate Excise Tax

3.11.010    Imposition of tax.

3.11.020    Rate of tax.

3.11.030    Compliance with statutory authority.

3.11.040    Administration and collection.

Article II. Additional Real Estate Excise Tax

3.11.050    Additional real estate tax.

3.11.060    Deposit in capital projects fund.

Article I. Real Estate Excise Tax

3.11.010 Imposition of tax.

There is imposed an excise tax on each sale of real property within the city of Lynnwood. Taxes imposed under this section shall be collected from persons who are taxable by the state under Chapter 82.45 RCW upon the occurrence of any taxable event within the city. (Ord. 1255 § 1, 1982)

3.11.020 Rate of tax.

The rate of tax imposed by LMC 3.11.010 shall be one-quarter of one percent of the selling price of the real property. (Ord. 1255 § 2, 1982)

3.11.030 Compliance with statutory authority.

Taxes imposed by the ordinance codified in this section 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. (Ord. 1255 § 3, 1982)

3.11.040 Administration and collection.

The administration and collection of the tax imposed by this chapter shall be in accordance with RCW 82.46.030 through 82.46.060* as now or hereafter amended. (Ord. 1255 § 4, 1982)

*Ordinance references Washington Session Laws.

Article II. Additional Real Estate Excise Tax

3.11.050 Additional real estate tax.

A. In accordance with and as authorized by RCW 82.46.035(2), there is hereby levied and imposed an additional excise tax on each sale of real property within the corporate limits of the city of Lynnwood at a rate of one-quarter of one percent of the selling price of said real property.

B. The additional excise tax imposed hereunder shall be collected from those persons who are taxable by the state of Washington under Chapter 82.45 RCW upon the occurrence of any taxable event within the corporate limits of the city.

C. The imposition, administration and collection of the excise tax shall comply with all applicable rules, regulations, laws and court decisions regarding real estate excise taxes as imposed by the state of Washington under Chapters 82.45 and 82.46 RCW. (Ord. 2612 § 1, 2006)

3.11.060 Deposit in capital projects fund.

All proceeds of the excise tax collected hereunder shall be deposited into Fund 331, Real Estate Excise Tax. Monies in said fund shall be accumulated from year to year, and may be expended at such times as the city council shall direct for purposes of making capital projects specified in a capital facilities plan element of the city of Lynnwood comprehensive plan in accordance with uses prescribed in Chapter 82.46 RCW. (Ord. 2612 § 2, 2006)