H-4112.2          _______________________________________________

                                  HOUSE BILL 2552

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State of Washington              54th Legislature             1996 Regular Session

By Representatives Morris, B. Thomas, Pennington, Kessler, Hatfield, Scheuerman, Murray, Conway, Quall, Regala and Linville

Read first time 01/12/96.  Referred to Committee on Finance.

Exempting land subject to certain governmental restrictions from property taxation.

     AN ACT Relating to property tax exemption of land subject to governmental restrictions; adding a new section to chapter 84.36 RCW; and creating a new section.

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

NEW SECTION. Sec. 1.  A new section is added to chapter 84.36 RCW to read as follows:

     (1) Land is exempt from taxation if a restriction adopted by a government entity precludes or makes economically unreasonable the use of the property for residential purposes and for commercial purposes.

     (2) As used in this section, "restriction" means a limitation, requirement, regulation, or restriction that limits the use of the property, including those imposed by the application of ordinances, resolutions, rules, regulations, policies, statutes, and conditions of land use approval.

NEW SECTION. Sec. 2.  Section 1 of this act is effective for taxes levied for collection in 1997 and thereafter.

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