There is hereby levied, and shall be collected, a leasehold excise tax on and after January 1, 1976, upon the act or privilege of occupying or using publicly owned real or personal property within the city through a "leasehold interest," as defined by Section II, Chapter 61, Laws of 1975-76, Second Extraordinary Session (hereinafter known as "the state act"). The tax shall be paid, collected, and remitted to the Department of Revenue of the state of Washington at the time and in the manner prescribed by Section 5 of the state act.
(Ord. 420 § 1, 1976)
The rate of the tax imposed by NBMC § 3.16.010 shall be as established by the taxes, rates and fees schedule adopted by ordinance, provided a credit of 33 percent of the tax produced by the above rate, with respect to a product lease (as defined by RCW 82.29A.020(3)), shall be allowed.
(Ord. 420 § 2, 1976; Ord. 1237 § 2 (part), 2005)
Leasehold interests exempted by Section 13 of the state act, as it now exists or may hereinafter be amended, shall be exempt from the tax imposed pursuant to Section 3.16.010.
(Ord. 420 § 4, 1976)