BILL REQ. #:  H-4007.3 

Prefiled 01/11/08. Read first time 01/14/08.   Referred to Committee on Finance.

     AN ACT Relating to the valuation of exempt property for property tax assessment purposes; and amending RCW 84.40.175.

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

Sec. 1   RCW 84.40.175 and 1994 c 124 s 24 are each amended to read as follows:
     (1) At the time of making the assessment of real property, the assessor shall enter each description of property exempt under the provisions of chapter 84.36 RCW((, and value)) and list the same ((in the manner and subject to the same rule as the assessor is required to assess all other property)), designating in each case to whom such property belongs. ((However,)) Except as otherwise provided in law, the assessor is not required to value property exempt under chapter 84.36 RCW; however, the assessor may value such property at their discretion, or if required for the purposes of special or administrative assessments.
     (2) With respect to publicly owned property exempt from taxation under provisions of RCW 84.36.010, the assessor shall value only such property as is leased to or occupied by a private person under an agreement allowing such person to occupy or use such property for a private purpose when a request for such valuation is received from the department of revenue or the lessee of such property for use in determining the taxable rent as provided for in chapter 82.29A RCW: PROVIDED FURTHER, That this section shall not prohibit any assessor from valuing any public property leased to or occupied by a private person for private purposes.