H-3208.1 _______________________________________________
HOUSE BILL 2324
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State of Washington 52nd Legislature 1992 Regular Session
By Representatives Winsley, H. Sommers, Dellwo and Zellinsky
Read first time 01/15/92. Referred to Committee on Revenue.
AN ACT Relating to penalties and interest on assessments of omitted property; amending RCW 84.40.080; and creating a new section.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. RCW 84.40.080 and 1973 2nd ex.s. c 8 s 1 are each amended to read as follows:
The
assessor, upon his or her own motion, or upon the application of any
taxpayer, shall enter in the detail and assessment list of the current year any
property shown to have been omitted from the assessment list of any preceding
year, at the valuation of that year, or if not then valued, at such valuation
as the assessor shall determine from the preceding year, and such valuation
shall be stated in a separate line from the valuation of the current year.
Where improvements have not been valued and assessed as a part of the real
estate upon which the same may be located, as evidenced by the assessment
rolls, they may be separately valued and assessed as omitted property under
this section: PROVIDED, That no such assessment shall be made in any case
where a bona fide purchaser, encumbrancer, or contract buyer has acquired any
interest in said property prior to the time such improvements are assessed((.
When such an omitted assessment is made, the taxes levied thereon may be paid
within one year of the due date of the taxes for the year in which the
assessment is made without penalty or interest)): AND PROVIDED FURTHER,
That in the assessment of personal property, the assessor shall assess the
omitted value not reported by the taxpayer as evidenced by an inspection of
either the property or the books and records of said taxpayer by the assessor.
NEW SECTION. Sec. 2. This act shall be effective for assessments made after December 31, 1991.