HB 2601 - DIGEST

     Declares that, for taxes to be collected in 1997, all real property shall be assessed at 1995 fair market value under RCW 84.40.030.

     Provides that the true and fair value may reflect from year to year an inflationary rate not to exceed two percent per year or a reduction to reflect factors causing a decline in value.

     Provides that governmental entities may not impose impact fees as a condition or consequence of property development except as provided in chapter 82.02 RCW.