S-4073               _______________________________________________

                                                   SENATE BILL NO. 6497

                        _______________________________________________

State of Washington                               51st Legislature                              1990 Regular Session

By Senator Lee

Read first time 1/15/90 and referred to Committee on  Ways & Means.

AN ACT Relating to property revaluation; and amending RCW 84.41.041.

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

        Sec. 1.  Section 2, chapter 131, Laws of 1974 ex. sess. as last amended by section 4, chapter 319, Laws of 1987 and RCW 84.41.041 are each amended to read as follows:

          Each county assessor shall cause taxable real property to be physically inspected and valued at least once every six years in accordance with RCW 84.41.030, and in accordance with a plan filed with and approved by the department of revenue.  Such revaluation plan shall provide that a reasonable portion of all taxable real property within a county shall be revalued and these newly-determined values placed on the assessment rolls each year.  The department may approve a plan that provides that all property in the county be revalued every two years.  ((If the revaluation plan provides for physical inspection at least once each four years,  during the intervals between each physical inspection of real property, the valuation of such property may be adjusted to its current true and fair value, such adjustments to be based upon appropriate statistical data.  If the revaluation plan provides for physical inspection less frequently than once each four years,))  During the intervals between each physical inspection of real property, the valuation of such property shall be adjusted to its current true and fair value, such adjustments to be made once each year and to be based upon appropriate statistical data.

          The assessor may require property owners to submit pertinent data respecting taxable property in their control including data respecting any sale or purchase of said property within the past five years, the cost and characteristics of any improvement on the property and other facts necessary for appraisal of the property.