Chapter 3.30
AFFORDABLE HOUSING SALES TAX CREDIT
Sections:
3.30.030 Imposition of sales and use tax for affordable housing.
3.30.010 Purpose.
The purpose of this chapter is to impose a local sales and use tax for the acquisition, construction or rehabilitation of affordable housing or facilities providing supportive housing as authorized by RCW 82.14.540. (Ord. 704 § 2, 2020)
3.30.020 Definitions.
A. “Participating town” is a town that imposes a sales and use tax in accordance with the terms of RCW 82.14.540.
B. “Taxable event” means any retail sale, or any use, upon which a state tax is imposed pursuant to Chapter 82.08 or 82.12 RCW, as they now exist or may hereafter be amended. However, the term does not include a retail sale taxable pursuant to RCW 82.08.150, as now or hereafter amended. (Ord. 704 § 2, 2020)
3.30.030 Imposition of sales and use tax for affordable housing.
A. Imposition. The Town of Yarrow Point is a participating town. Pursuant to RCW 82.14.540, there is authorized, fixed and imposed a sales and use tax on every taxable event. The tax shall be imposed upon and collected from those persons from whom the state sales or use tax is collected pursuant to Chapters 82.08 and 82.12 RCW.
B. Rate. The rate of the tax imposed by this chapter shall be the maximum rate permitted cities under RCW 82.14.540.
C. Deduction. The tax imposed under this chapter must be deducted from the amount of tax otherwise required to be collected or paid to the Department of Revenue under Chapter 82.08 or 82.12 RCW. (Ord. 704 § 2, 2020)
3.30.040 Reporting.
The clerk-treasurer or designee shall report on the collection and use of the revenue from the tax imposed by this chapter annually to the Department of Commerce. (Ord. 704 § 2, 2020)
3.30.050 Expiration.
The tax imposed by this chapter expires 20 years after the date on which the tax is first imposed. (Ord. 704 § 2, 2020)