WSR 16-06-043 PERMANENT RULES DEPARTMENT OF REVENUE [Filed February 24, 2016, 9:18 a.m., effective March 26, 2016] Effective Date of Rule: Thirty-one days after filing.
Purpose: Updates WAC 458-18-020 to incorporate legislative changes enacted in the 3rd sp. sess. of 2015, specifically: SSB 5186 (section 3, chapter 30, Laws of 2015).
Citation of Existing Rules Affected by this Order: Amending WAC 458-18-020 Deferral of special assessments and/or property taxes—Qualifications for deferral.
Adopted under notice filed as WSR 16-01-142 on December 21, 2015.
Number of Sections Adopted in Order to Comply with Federal Statute: New 0, Amended 0, Repealed 0; Federal Rules or Standards: New 0, Amended 0, Repealed 0; or Recently Enacted State Statutes: New 0, Amended 1, Repealed 0.
Number of Sections Adopted at Request of a Nongovernmental Entity: New 0, Amended 0, Repealed 0.
Number of Sections Adopted on the Agency's Own Initiative: New 0, Amended 0, Repealed 0.
Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, Amended 0, Repealed 0.
Number of Sections Adopted Using Negotiated Rule Making: New 0, Amended 0, Repealed 0; Pilot Rule Making: New 0, Amended 0, Repealed 0; or Other Alternative Rule Making: New 0, Amended 0, Repealed 0.
Date Adopted: February 24, 2016.
Kevin Dixon
Rules Coordinator
AMENDATORY SECTION (Amending WSR 08-16-077, filed 7/31/08, effective 8/31/08)
WAC 458-18-020 Deferral of special assessments and/or property taxes—Qualifications for deferral.
A person may defer payment of special assessments and/or real property taxes on up to eighty percent of the amount of his equity value in said property if the following conditions are met:
(1) The claimant must have owned, at the time of filing, the residence on which the special assessment and/or real property taxes have been imposed. For purposes of this subsection a residence owned by a marital community, a state registered domestic partnership, or cotenants shall be deemed to be owned by each spouse, each domestic partner, and each cotenant. A claimant who has only a share ownership in cooperative housing, a life estate, a lease for life or a revocable trust does not satisfy the ownership requirement.
(2) If the amount deferred is to exceed one hundred percent of the claimant's equity value in the land or lot only, the claimant must have and keep in force fire and casualty insurance in sufficient amount to protect the interest of the state of Washington and shall designate the state as a loss payee upon said policy. In no case shall the deferred amount exceed the amount of the insured value of the improvement plus the land value.
(3) In the case of special assessment deferral, the claimant must have opted for payment of such special assessments on the installment method if such method was available.
|