H-3719.2          _______________________________________________

                                  HOUSE BILL 2825

                  _______________________________________________

State of Washington              52nd Legislature             1992 Regular Session

By Representative Haugen

Read first time 01/28/92.  Referred to Committee on Revenue.Authorizing an exception to the one hundred six percent limitation.

     AN ACT Relating to an exception to the one hundred six percent limitation; and adding a new section to chapter 84.55 RCW.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1.  A new section is added to chapter 84.55 RCW to read as follows:

     Whenever the income from the county current expense property tax levy has been reduced under RCW 84.55.010 below an amount that would be raised from a tax rate of one dollar per thousand dollars of assessed valuation, the county legislative authority may increase the county current expense property tax levy by up to one hundred twenty percent of the tax levy imposed by the county in the preceding year, plus an additional dollar amount calculated by multiplying the regular property tax rate of the county for the preceding year by the sum of the increase in assessed value in the county resulting from new construction, improvements to property, and any increase in the assessed value of state-assessed property.  However, the increased property taxes provided for in this section may not result in a tax rate of more than one dollar and ten cents per thousand dollars of assessed valuation.