WSR 02-19-095

EXPEDITED RULES

DEPARTMENT OF REVENUE


[ Filed September 17, 2002, 2:31 p.m. ]

     Title of Rule: Amendatory section WAC 458-30-262 Agricultural land valuation -- Interest rate -- Property tax component.

     Purpose: To provide county assessors with the rate of interest and property tax component used in valuing farm and agricultural land classified under chapter 84.34 RCW (the open space program) during assessment year 2003.

     Statutory Authority for Adoption: RCW 84.34.065.

     Statute Being Implemented: RCW 84.34.065.

     Summary: The rule is being amended to update the interest rate and property tax component used to value farm and agricultural land classified under chapter 84.34 RCW. The amendments provide information that local taxing officials need to value classified farm and agricultural land during assessment year 2003.

     Reasons Supporting Proposal: RCW 84.34.065 requires the department to annually determine a rate of interest and property tax component. This information is to be set forth in a rule that is to be published in the Washington State Register no later than January 1 each year for use in that assessment year.

     Name of Agency Personnel Responsible for Drafting: Kim M. Qually, 1025 Union Avenue S.E., Suite #400, Olympia, WA, (360) 570-6113; Implementation and Enforcement: Sandy Guilfoil, 1025 Union Avenue S.E., Suite #200, Olympia, WA, (360) 570-5860.

     Name of Proponent: Department of Revenue, governmental.

     Rule is not necessitated by federal law, federal or state court decision.

     Explanation of Rule, its Purpose, and Anticipated Effects: WAC 458-30-262 provides county assessors with information they need to value farm and agricultural land classified under chapter 84.34 RCW during assessment year 2003. The underlying statute, RCW 84.34.065, requires the rate of interest and property tax component to be set forth in a rule that is updated annually. The figures are used to determine the value of classified farm and agricultural land. RCW 84.34.065 mandates that a revised rule containing this data be published in the Washington State Register no later than January 1st of each assessment year.

     Proposal Changes the Following Existing Rules: The rule being proposed amends the current version of WAC 458-30-262. The amendments to the rule change the effective assessment year, rate of interest, and property tax component. These figures will be used to value farm and agricultural land classified under chapter 84.34 RCW during assessment year 2003.

NOTICE

     THIS RULE IS BEING PROPOSED UNDER 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 THE USE OF THE EXPEDITED RULE-MAKING PROCESS, YOU MUST EXPRESS YOUR OBJECTIONS IN WRITING AND THEY MUST BE SENT TO Kim M. Qually, Counsel, Department of Revenue, P.O. Box 47467, Olympia, WA 98504-7467, fax (360) 664-0693, e-mail kimq@dor.wa.gov , AND RECEIVED BY November 18, 2002.


September 16, 2002

Alan R. Lynn

Rules Coordinator

Legislation and Policy Division

OTS-5919.2


AMENDATORY SECTION(Amending WSR 02-03-040, filed 1/8/02, effective 2/8/02)

WAC 458-30-262   Agricultural land valuation -- Interest rate -- Property tax component.   For assessment year ((2002)) 2003, the interest rate and the property tax component that are to be used to value classified farm and agricultural lands are as follows:

     (1) The interest rate is ((9.35)) 8.91 percent; and

     (2) The property tax component for each county is:


COUNTY PERCENT COUNTY PERCENT
Adams 1.37 Lewis ((1.21)) 1.17
Asotin ((1.44)) 1.46 Lincoln ((1.41)) 1.40
Benton ((1.46)) 1.41 Mason ((1.25)) 1.27
Chelan ((1.32)) 1.33 Okanogan ((1.27)) 1.26
Clallam ((1.18)) 1.12 Pacific ((1.27)) 1.25
Clark 1.37 Pend Oreille ((1.34)) 1.32
Columbia ((1.40)) 1.38 Pierce ((1.53)) 1.49
Cowlitz ((1.20)) 1.25 San Juan ((0.84)) 0.81
Douglas ((1.43)) 1.41 Skagit ((1.27)) 1.23
Ferry 1.12 Skamania ((1.05)) 1.03
Franklin ((1.53)) 1.52 Snohomish ((1.39)) 1.35
Garfield ((1.60)) 1.58 Spokane ((1.48)) 1.49
Grant 1.44 Stevens ((1.16)) 1.14
Grays Harbor ((1.30)) 1.32 Thurston ((1.53)) 1.49
Island ((1.02)) 0.94 Wahkiakum ((1.03)) 1.02
Jefferson ((1.22)) 1.18 Walla Walla ((1.46)) 1.49
King ((1.19)) 1.12 Whatcom ((1.30)) 1.28
Kitsap ((1.32)) 1.39 Whitman ((1.47)) 1.51
Kittitas ((1.07)) 1.08 Yakima ((1.33)) 1.29
Klickitat ((1.18)) 1.24

[Statutory Authority: RCW 84.34.065 and 84.34.141. 02-03-040, § 458-30-262, filed 1/8/02, effective 2/8/02. Statutory Authority: RCW 84.34.065, 84.34.360. 00-24-105, § 458-30-262, filed 12/6/00, effective 1/1/01; 99-24-034, § 458-30-262, filed 11/23/99, effective 1/1/00. Statutory Authority: RCW 84.34.065, 84.34.360 and 84.08.010. 99-01-067, § 458-30-262, filed 12/14/98, effective 1/1/99. Statutory Authority: RCW 84.34.065, 84.34.141 and 84.08.010. 98-01-178, § 458-30-262, filed 12/23/97, effective 1/1/98. Statutory Authority: RCW 84.34.065, 84.34.141, 84.08.010 and 84.34.070. 97-02-066, § 458-30-262, filed 12/31/96, effective 1/1/97. Statutory Authority: RCW 84.34.065, 84.34.141, 84.08.010 and 84.34.070. 96-01-095, § 458-30-262, filed 12/19/95, effective 1/1/96. Statutory Authority: RCW 84.34.065, 84.34.141, 84.08.010 and 84.08.070. 95-09-041, § 458-30-262, filed 4/14/95, effective 5/15/95. Statutory Authority: RCW 84.08.010, 84.08.070 and 84.34.065. 94-05-062, § 458-30-262, filed 2/11/94, effective 3/14/94. Statutory Authority: RCW 84.08.010 and 84.08.070. 93-07-067, § 458-30-262, filed 3/17/93, effective 4/17/93; 92-03-068, § 458-30-262, filed 1/14/92, effective 2/14/92; 91-04-001, § 458-30-262, filed 1/24/91, effective 2/24/91; 90-24-087, § 458-30-262, filed 12/5/90, effective 1/5/91. Statutory Authority: RCW 84.08.010(2) and 84.34.141. 90-02-080 (Order PT 90-1), § 458-30-262, filed 1/2/90, effective 2/2/90.]

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