SSB 5396 -
By Senators Parlette, Morton
ADOPTED 03/16/2005
On page 8, line 23, after "owned." insert "In counties having less than thirty percent of land in private ownership, the amount in lieu of real property taxes must be based on one hundred percent of the property's true and fair value under chapter 84.40 RCW except taxes levied for any state purpose."
On page 8, line 26, after "due" strike "under chapter 84.34 RCW"
On page 17, line 21, after "owned." insert "In counties having less than thirty percent of land in private ownership, the amount in lieu of real property taxes must be based on one hundred percent of the property's true and fair value under chapter 84.40 RCW except taxes levied for any state purpose."
On page 17, beginning on line 23, after "due" strike "under chapter 84.34 RCW"
On page 18, line 3, after "owned." insert "In counties having less than thirty percent of land in private ownership, the amount in lieu of real property taxes must be based on one hundred percent of the property's true and fair value under chapter 84.40 RCW except taxes levied for any state purpose."
On page 18, beginning on line 5, after "due" strike "under chapter 84.34 RCW"
On page 25, line 20, after "owned." insert "In counties having less than thirty percent of land in private ownership, the calculation of amounts in lieu of real property taxes is based on one hundred percent of the property's true and fair value under chapter 84.40 RCW, except taxes levied for any state purpose, and not on the property's value under chapter 84.34 RCW."
EFFECT: Counties having less than thirty percent of land in private ownership will receive payments in lieu of real property taxes based on one hundred percent of the true and fair value of the real property acquired.