S-0612.5  _______________________________________________

                    SUBSTITUTE SENATE BILL 5003

          _______________________________________________

State of Washington      55th Legislature     1997 Regular Session

By Senate Committee on Ways & Means (originally sponsored by Senators Swecker, Loveland, McDonald, Sheldon, Winsley, Goings, Deccio, Rasmussen, Hale, Stevens, Johnson, McCaslin, Rossi, Oke, Zarelli and Roach)

Read first time 02/12/97.

Providing property tax exemptions for property with an assessed value of less than five hundred dollars.

    AN ACT Relating to property tax exemptions for property with an assessed value of less than five hundred dollars; adding a new section to chapter 84.36 RCW; and providing an effective date.

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) Each parcel of real property, and each personal property account, that has an assessed value of less than five hundred dollars is exempt from taxation.

    (2) This section does not apply to personal property to which the exemption from taxation under RCW 84.36.110(2) may be applied or to real property which qualifies for preferential tax treatment under this chapter or chapter 84.14, 84.26, 84.33, or 84.34 RCW.

NEW SECTION. Sec. 2.  This act takes effect January 1, 1999.

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