7502 EVERGREEN WAY 1ST INTERSTATE BANK 2018-01-02 MF Import

1% GROSS SALE PRICE "Selling Price" shall mean consideration, including money or anything of value, paid or 1 delivered or contracted to be paid or delivered in return for the transfer of the real property or estate or interest in real property, and shall include the amount of any lien, mortgage, contract indebtedness, or other incumbrance, either given to secure the purchase price, or any part thereof, or remaining unpaid on such property at the time of sale (WAC 458.61.030(13)). When consideration is other than money and the transfer is taxable, market value is to be reported. 2/ PERSONAL PROPERTY The transfer of personal property is subject to the use tax and is the liability of the grantee. Use separate H form for mobile home. tea to y 3/ AUDIT Ah'D ENFORCEMENT nr cy 3 The tax paid by this document is subject to audit by the Department of Revenue under RCW 82.45.150. RCW t 82.45.080 specifies that this tax is the obligation of the seller and remedies for its enforcement are specified r y E in Chapter 82.32 RCW. RCW 82.45.080 states that such tax and penalities... "shall be a specific lien upon ti? H K 0 each piece of real property sold from the time of sale until the tax shell have been paid, which lien may be y 00 enforced in the manner prescribed for the foreclosure of mortgages". H 0 C4 H x s 4/ LOCAL REAL ESTATE EXCISE TAX N Cities and/ur counties are authorized to adopt by ordinance an additional real estate excise tax to be y OH collected and distributed by the county treasurer (CHAPTER 82.46 RCW). lr 5/ DELINQUENT PENALTY y If the tax due is not paid within 30 days from the time of sale, interest of 1% per month shall be charged from H y the sale date until date of payment. Nonpayment or underpayment resulting from in-ent to evade the lax is H subject to 50% penalty (Chapter 82.45 RCW). 0U[n ' ti 6/ PERJURY O Perjury is a class C felony which is punishable by imprisonment in a state correctional institution for a yco maximum term of not more than Live years, or by a fine in an amount fixed by.the court of not more than five thousand dollars, or by both_ such. imprisonment and fine (RCW 9A.20.020 (1C)). TAX OBLIGATION FOR FOREST LAND CLASSIFICATION OR DESIGNATION, CURRENT USE (OPEN SPACE) CLASSIFICATION, PROPERTY EXEMPT FROM TAXATION OR SPECIAL VALUATION AS HISTORIC PROPERTY FOREST LAND LIABiLITY (RCW 84.33.120 and 84.33.140) Upon withdrawal or removal of this land from classification or designation a compensating tax shall be imposed which shall be equal to: 1. The difference between the amount of tax last levied on such land as forest land and an amount equal to the new assessed valuation of such land multiplied by the millage rate of the last levy extended against w. such land, multiplied by 2. A number, in no event greater than ten, equal to the number of years for which such land was classified or designated as forest land. w� Reforestation or conversion requirements should be consulted according to Chapter 76.09 RCW. CURRENT USE LIABILITY (RCW 84.34.108) Upon withdrawal or removal of this land from classification, an additional tas shall be imposed in the following 't manner. 1. Land under classification for a minimum of ten years shall pay an amount equal to the difference between the tax computed on the basis of "current use" and the tax computed on the basis of true and fair value plus interest at the same statutory rate charged on property taxes. The additional tax and interest shall be paid for the seven years last past. 2. Land withdrawn because of a change to a nonconforming use or land withdrawn prior to the minimum ten- year period or failure to comply to two-year notice of withdrawal shall be liable to pay the additional tax as in 1. above plus a penalty of 20% of the additional tax and interest. The additional tax, interest and penalty shall be paid for the past seven years. PROPERTY EXEMPT FROM TAXATION (RCW 84.36.810 and 84.36.262) Sale of exempt property may cause laxes.and interest to be assessed for up to last ten years, depending on type and life of exemption. SPECIAL VALUATION AS HISTORIC PROPERTY LIABILITY (Chapter 449, Laws of 1985) Whenever property classifed and valued as eligible historic property is removed or disqualifies for the valuation, an additional tax shall become due and payable which is equal to (a) the actual costs of the substantial improvement multiplied by the levy rate in each year the property was subject to special valuation: plus (b) interest on the amounts of the additional tax at the statutory rate charged on delinquent property taxes from the dates on which the additional tax could have been paid without penalty if the property had not been valued as historic property; plus a penally equal to twelve percent of the amount determined in (a) and (b). FORM PLV e 4 MOn MP 10'8r) Q!M1fq Oy 05 -