On page 2, beginning on line 13, after "acre." strike all material through "dollars.))" on line 19 and insert "The maximum annual per parcel rate shall not exceed ((five dollars, except that for counties with a population of over four hundred eighty thousand persons, the maximum annual per parcel rate shall not exceed ten dollars, and for counties with a population of over one million five hundred thousand persons, the maximum annual per parcel rate shall not exceed fifteen dollars))$25."
On page 2, line 20, after "(b)" insert: "Beginning March 1, 2029, and by March 1st every third year thereafter, the department of revenue must adjust the maximum annual per parcel rates based on the consumer price index for all urban consumers, all items, for the Seattle metropolitan area for the prior 12-month period as calculated by the United States bureau of labor statistics or its successor agency. The adjusted maximum annual per parcel rates must be rounded to the nearest $1. If the adjustment to the maximum annual per parcel rate is negative, the maximum annual per parcel rate for the prior year continues to apply. The department of revenue must publish the adjusted maximum annual per parcel rates on its public website by March 31st. For purposes of this subsection (3)(b), "Seattle metropolitan area" means the geographic area sample that includes Seattle and surrounding areas.
(c)"