DEPARTMENT OF REVENUE
[Filed October 6, 1998, 1:38 p.m.]
Title of Rule: Amendatory section WAC 458-30-590 Rates of inflation.
Purpose: To provide a rate of inflation that is used by county officials to calculate interest on deferred property taxes in certain circumstances.
Statutory Authority for Adoption: RCW 84.34.360.
Statute Being Implemented: RCW 84.34.310.
Summary: Special benefit assessments on farm and agricultural or timber land classified under chapter 84.34 RCW may be deferred by the land owner. If the land owner has chosen to defer this type of assessment and the classified land is subsequently removed or withdrawn from classification under chapter 84.34 RCW, the deferred special benefit assessment becomes due and payable with interest. This rule provides the rate of inflation that is used to calculate the interest to be added to the deferred assessment and the sum of these amounts equals the total amount due.
Reasons Supporting Proposal: RCW 84.34.310(6) authorizes the department to determine the rate of inflation and to adopt this rate by rule prior to January 1st each year.
Name of Agency Personnel Responsible for Drafting: Kim M. Qually, 711 Capitol Way South, #303, Olympia, WA, (360) 664-0086; Implementation and Enforcement: Sandy Guilfoil, 6004 Capitol Boulevard, Tumwater, WA, (360) 753-5503.
Name of Proponent: Department of Revenue, governmental.
Agency Comments or Recommendations, if any, as to Statutory Language, Implementation, Enforcement, and Fiscal Matters: No comments or recommendations are submitted.
Rule is not necessitated by federal law, federal or state court decision.
Explanation of Rule, its Purpose, and Anticipated Effects: This amendatory rule is necessary to update the rate of inflation table to include 1998. The rate of inflation is used when land classified as farm and agricultural or timber land under chapter 84.34 RCW is removed or withdrawn from classification and the special benefit assessments relating to this land have been deferred by the land owner. This rate is used to calculate a rate of interest that is added to the amount of assessment deferred and the total amount due.
Proposal Changes the Following Existing Rules: This proposed rule amends the current version of WAC 458-30-590. The proposed rule adds the rate of inflation for 1998.
THIS RULE IS BEING PROPOSED TO BE ADOPTED USING AN EXPEDITED RULE-MAKING PROCESS THAT WILL ELIMINATE THE NEED FOR THE AGENCY TO HOLD PUBLIC HEARINGS, PREPARE A SMALL BUSINESS ECONOMIC IMPACT STATEMENT, OR PROVIDE RESPONSES TO THE CRITERIA FOR A SIGNIFICANT LEGISLATIVE RULE. IF YOU OBJECT TO THIS RULE BEING ADOPTED USING THE EXPEDITED RULE-MAKING PROCESS, YOU MUST EXPRESS YOUR OBJECTIONS IN WRITING AND THEY MUST BE SENT TO Peri Maxey, Department of Revenue, P.O. Box 47471, Olympia, WA 98504-7471, fax (360) 586-7602, AND RECEIVED BY December 5, 1998.
October 6, 1998
Russell W. Brubaker
Legislation and Policy Division
AMENDATORY SECTION (Amending WSR 98-01-179, filed 12/23/97, effective 1/1/98)
WAC 458-30-590 Rates of inflation. (1) Introduction. This section sets forth the rates of inflation discussed in WAC 458-30-550.
(2) Rates of inflation. The rates of inflation to be used for calculating the interest as required by WAC 458-30-550 are as follows:
[Statutory Authority: RCW 84.34.360 and 84.34.310. 98-01-179, § 458-30-590, filed 12/23/97, effective 1/1/98; 97-02-067, § 458-30-590, filed 12/31/96, effective 1/1/97; 96-01-094, § 458-30-590, filed 12/19/95, effective 1/1/96; 95-06-043, § 458-30-590, filed 2/24/95, effective 3/27/95. Statutory Authority: RCW 84.34.360. 94-11-098, § 458-30-590, filed 5/17/94, effective 6/17/94; 92-22-061, § 458-30-590, filed 10/29/92, effective 11/29/92. Statutory Authority: RCW 84.08.010 and 84.08.070. 90-24-087, § 458-30-590, filed 12/5/90, effective 1/5/91. Statutory Authority: Chapter 84.34 RCW and RCW 84.34.360. 89-05-010 (Order PT 89-3), § 458-30-590, filed 2/8/89. Statutory Authority: RCW 84.34.360. 88-07-004 (Order PT 88-4), § 458-30-590, filed 3/3/88; 87-07-009 (Order PT 87-3), § 458-30-590, filed 3/10/87.]