Ordinance 154-71 - Laserfiche WebLink

• • ORDINANCE NO. AN ORDINANCE for the levy and collection of a special excise tax of 1% on the fair market value of motor vehicles owned by residents of the City of Everett. WHEREAS, RCW 35. 58. 273 establishes authorization for municipalities to levy and collect a special excise tax on motor vehicles, and WHEREAS, revenues from said special tax are necessary to the City of Everett for the purpose of supporting the Everett Transit System which is not financially capable of operating as a separate utility and will require additional funding from other tax sources to remain in operation, and WHEREAS, the Council recognizes the necessity of developing an adequate source of revenues to provide transit services in the City of Everett, NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: Section 1: The City Council of the City of Everett hereby levies a special excise tax of 1% on the fair market value of every motor vehicle owned by a resident of the City of Everett for the privilege of using such motor vehicle in the City of Everett provided that in no event shall the said tax be less than $1. 00. Subject to the provisions of sub-section 2 of RCW 82. 44. 150, the amount of such tax shall be credited against the amount of the excise tax levied by the state under RCW 82. 44. 020. Section 2: Any vehicle for which an excise tax is payable under RCW 82. 44. 030 and RCW 82. 44. 070 shall be exempt from the tax imposed under Section 1 of this ordinance. Section 3: The schedule and basis for the excise tax imposed under Section 1 of this ordinance shall be as provided in RCW 82. 44. 040 and RCW 82. 44. 050. Penalties, receipts, abatements, refunds and all other similar matters relating to the tax shall be as provided in Chapter 82. 44 of the Revised Code of Washington. Section 4: The excise tax levied under Section 1 of this ordinance shall be due and payable as set forth in RCW 82. 44. 060 and shall be collected by the County Auditor of Snohomish County and remitted to the state at no cost to the City of Everett, in accordance with RCW 35. 58. 276. Section 5: All taxes levied and collected pursuant to this ordinance shall be credited to Everett and shall be used solely for the purpose of paying all or any part of the cost of operating the publicly owned mass transportation system of the City of Everett established under Ordinance No. 40-69, or to pay or secure the payment of all or part of the principal of or interest on any general obligation bonds or revenue bonds issued for public transportation capital purposes and until withdrawn for use the monies accumulated in such fund account or funds may be invested by the Treasurer of the City of Everett in the manner authorized by the City Council of the City of Everett.