PERMANENT RULES
Date of Adoption: December 6, 2000.
Purpose: To provide the rate of interest that will be assessed when property taxes paid in 2001 are refunded.
Citation of Existing Rules Affected by this Order: Amending WAC 458-18-220 Refunds -- Rates of interest.
Statutory Authority for Adoption: RCW 84.69.100.
Adopted under notice filed as WSR 00-20-025 on September 26, 2000.
Number of Sections Adopted in Order to Comply with Federal Statute: New 0, Amended 0, Repealed 0; Federal Rules or Standards: New 0, Amended 0, Repealed 0; or Recently Enacted State Statutes: New 0, Amended 0, Repealed 0.
Number of Sections Adopted at Request of a Nongovernmental Entity: New 0, Amended 0, Repealed 0.
Number of Sections Adopted on the Agency's Own Initiative: New 0, Amended 0, Repealed 0.
Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, Amended 0, Repealed 0.
Number of Sections Adopted Using Negotiated Rule Making: New 0, Amended 0, Repealed 0; Pilot Rule Making: New 0, Amended 0, Repealed 0; or Other Alternative Rule Making: New 0, Amended 1, Repealed 0.
Other Findings Required by Other Provisions of Law as Precondition to Adoption or Effectiveness of Rule: RCW 84.69.100 requires the rate of interest to be in place before the beginning of assessment year 2001.Effective Date of Rule: December 31, 2000.
December 6, 2000
Russell W. Brubaker
Assistant Director
Legislation and Policy Division
OTS-4421.1
AMENDATORY SECTION(Amending WSR 99-24-033, filed 11/23/99,
effective 12/24/99)
WAC 458-18-220
Refunds -- Rate of interest.
The following
rates of interest shall apply on refunds of taxes made pursuant
to RCW 84.69.010 through 84.69.090 in accordance with RCW 84.69.100. The following rates shall also apply to judgments
entered in favor of the plaintiff pursuant to RCW 84.68.030. The
interest rate is derived from the equivalent coupon issue yield
of the average bill rate for twenty-six week treasury bills as
determined at the first bill market auction conducted after June
30th of the calendar year preceding the date the taxes were paid.
The rate thus determined shall be applied to the amount of the
judgment or the amount of the refund, until paid:
| Year tax paid |
Auction Year |
Rate |
|
| 1985 | 1984 | 11.27% | |
| 1986 | 1985 | 7.36% | |
| 1987 | 1986 | 6.11% | |
| 1988 | 1987 | 5.95% | |
| 1989 | 1988 | 7.04% | |
| 1990 | 1989 | 8.05% | |
| 1991 | 1990 | 8.01% | |
| 1992 | 1991 | 5.98% | |
| 1993 | 1992 | 3.42% | |
| 1994 | 1993 | 3.19% | |
| 1995 | 1994 | 4.92% | |
| 1996 | 1995 | 5.71% | |
| 1997 | 1996 | 5.22% | |
| 1998 | 1997 | 5.14% | |
| 1999 | 1998 | 5.06% | |
| 2000 | 1999 | 4.96% | |
| 2001 | 2000 | 5.98% |
[Statutory Authority: RCW 84.69.100. 99-24-033, § 458-18-220, filed 11/23/99, effective 12/24/99. Statutory Authority: RCW 84.08.010, 84.08.070 and 84.69.100. 99-01-066, § 458-18-220, filed 12/14/98, effective 1/1/99; 98-01-177, § 458-18-220, filed 12/23/97, effective 1/1/98; 97-02-068, § 458-18-220, filed 12/31/96, effective 1/1/97; 96-01-093, § 458-18-220, filed 12/19/95, effective 1/1/96; 95-06-044, § 458-18-220, filed 2/24/95, effective 3/27/95; 94-05-063, § 458-18-220, filed 2/11/94, effective 3/14/94. Statutory Authority: RCW 84.08.010 and 84.69.100. 93-06-096, § 458-18-220, filed 3/3/93, effective 4/3/93; 92-17-027, § 458-18-220, filed 8/11/92, effective 9/11/92; 91-15-024, § 458-18-220, filed 7/11/91, effective 8/11/91. Statutory Authority: RCW 84.69.100 and 84.08.010(2). 89-10-067 (Order PT 89-6), § 458-18-220, filed 5/3/89; 88-07-003 (Order PT 88-3), § 458-18-220, filed 3/3/88. Statutory Authority: RCW 84.69.100 as amended by 1987 c 319 and 84.08.010(2). 87-19-141 (Order PT 87-7), § 458-18-220, filed 9/23/87.]