There shall continue to be imposed an excise tax on each sale of real property within the corporate limits of the city. This tax shall be imposed upon and collected from those persons from whom the excise tax on real estate sales is collected pursuant to Chapter 82.45 RCW. The Yakima County treasurer is responsible for collection of this tax and shall be notified of the ordinance codified in this chapter on or before the effective date thereof.
(Ord. 738 § 1, 1992; Ord. 582 § 1, 1985)
The rate of tax imposed by ZMC § 3.12.010 shall be one-half of one percent of the selling price of said property, as is permitted by RCW 82.46.010(1).
(Ord. 738 § 2, 1992; Ord. 582 § 2, 1985)
The administration and collection of this real estate excise tax imposed by this chapter shall be in conjunction with the tax imposed by RCW 82.45.010 et seq., which is primarily the responsibility of the Yakima County treasurer. The Yakima County treasurer shall withhold one percent of the proceeds of all taxes imposed pursuant to this chapter in the Yakima County current expense fund to defray the cost of collections. The remaining proceeds collected shall be distributed back to the city by the Yakima County treasurer's office and shall be placed in the municipal real estate excise tax fund.
(Ord. 738 § 3, 1992; Ord. 582 § 3, 1985)
There is created a capital improvement fund for local public works improvements including those public works improvements described and listed in RCW 35.43.040. The city clerk/treasurer shall deposit such monies in this fund which are received from the imposition of the excise tax on real estate sales imposed by this chapter. Monies shall not be expended from this fund without the approval by the city council in accordance with an ordinance describing the amount of funds to be expended and the specific capital public works improvement toward which said funds are to be expended. The city clerk/treasurer shall maintain an accurate accounting of all funds going into and coming out of said fund as required by this chapter and by law.
(Ord. 582 § 4, 1985)