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. ... • <br /> • . • <br /> 100100. • <br /> • <br /> • EYE?ETT <br /> ORDINANCE NO. /A57- 9/ <br /> AN ORDINANCE levying an additional one-quarter of one <br /> percent excise tax on the selling price of real <br /> property; providing for the use of such revenue; <br /> specifying and effective date; prescribing <br /> procedures for collection; and adopting Chapter <br /> 82 . 45 RCW; and modifying Ordinance No. 1244-86 by <br /> an additional section providing for continued use <br /> of the revenues derived therefrom. <br /> WHEREAS, the State Legislature passed and the Governor signed <br /> Substitute House Bill 2929 , Chapter 17 , Laws of 1990, First Ex. <br /> Sess. , providing under Section 38 for an additional excise tax on <br /> real estate sales at a rate of one-quarter of one percent of the <br /> selling price of real estate to be used to finance projects <br /> specified in a capital facilities plan as specified in said act; <br /> WHEREAS, Section 36 of the same 1990 act allows a city to <br /> continue to collect the real estate tax previously authorized but <br /> requires revenues therefrom to be used primarily for financing <br /> capital projects specified in a capital facilities plan; <br /> WHEREAS, the City Council finds that it would be in the best <br /> interests of the City of Everett to impose the taxes authorized <br /> by the State Legislature and to proceed to establish the capital <br /> facilities plan for use of said revenues; <br /> NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: <br /> Section 1: ADDITIONAL REAL ESTATE TAX. <br /> A. In addition to the Real Estate tax imposed under <br /> Ordinance No. 1244-86 there is hereby levied and imposed an <br /> excise tax on each sale of real property within the corporate <br /> limits of the City of Everett at a rate of one-quarter of one <br /> percent (0. 25%) of the selling price of said real property. <br /> B. Said excise tax shall be collected from those persons <br /> who are taxable by the State of Washington under Chapter 82 . 45 <br /> RCW upon the occurrence of any taxable event within the corporate <br /> limits of the City. <br /> C. Said excise tax shall comply with all applicable rules, <br /> regulations, laws and court decisions regarding real estate <br /> excise taxes as imposed by the State of Washington under Chapter <br /> 82 . 45 RCW and Chapter 458-81 WAC. <br />