The purpose of this chapter is to impose a local sales and use tax for the acquisition, construction or rehabilitation of affordable housing or facilities providing supportive housing as authorized by RCW 82.14.540.
(Ord. 704 § 2, 2020)
A. 
Imposition. The Town of Yarrow Point is a participating town. Pursuant to RCW 82.14.540, there is authorized, fixed and imposed a sales and use tax on every taxable event. The tax shall be imposed upon and collected from those persons from whom the state sales or use tax is collected pursuant to Chapters 82.08 and 82.12 RCW.
B. 
Rate. The rate of the tax imposed by this chapter shall be the maximum rate permitted cities under RCW 82.14.540.
C. 
Deduction. The tax imposed under this chapter must be deducted from the amount of tax otherwise required to be collected or paid to the Department of Revenue under Chapter 82.08 or 82.12 RCW.
(Ord. 704 § 2, 2020)
The clerk-treasurer or designee shall report on the collection and use of the revenue from the tax imposed by this chapter annually to the Department of Commerce.
(Ord. 704 § 2, 2020)
The tax imposed by this chapter expires 20 years after the date on which the tax is first imposed.
(Ord. 704 § 2, 2020)