Filed July 26, 2012,
] In accordance with RCW 90.58.030 (3)(e), the office of
financial management (OFM) shall adjust the "substantial
development" dollar threshold defined in the Shoreline
Management Act every five years beginning July 1, 2007. The
new dollar threshold shall be transmitted to the office of the
code reviser for publication in the Washington State Register
at least one month before the new threshold takes effect.
Notice of Substantial Development Dollar Threshold
RCW 90.58.030 (3)(e), a part of the Shoreline Management
Act, defines a substantial development to include any
development with a fair market value exceeding five thousand
dollars. The statute requires OFM to adjust this dollar
threshold for inflation every five years. The adjustment is
to be based on changes in the consumer price index for the
urban areas of Seattle, Washington, during that five-year
period. The new dollar threshold shall be published in the
state register at least one month before the new dollar
threshold takes effect.
In accordance with these requirements, OFM submits for
publication the new dollar threshold of six thousand four
hundred sixteen dollars. The new dollar threshold takes
effect September 15, 2012.
The new threshold was calculated as follows. Over the
five-year period from June 2007 to June 2012, the consumer
price index for urban wage earners and clerical workers for
the Seattle-Tacoma-Bremerton, Washington, area as reported by
the Bureau of Labor Statistics, United States Department of
Labor, increased by 12.2 percent. This percentage applied to
the prior threshold of five thousand seven hundred eighteen
dollars results in an updated threshold of six thousand four
hundred sixteen dollars.
If you have any questions or need further information,
contact Jim Schmidt at (360) 902-0595.
© Washington State Code Reviser's Office