Note X – Property Tax

Significant Changes to Note X – Property Tax

Note X - Property Tax

Clarification that the levy information in the note should be for the fiscal year being reported, added the property tax calendar and that the Washington State Constitution and RCW 84.55.010 limit the levy rate.

Note X – Property Tax

The county treasurer acts as an agent to collect property tax levied in the county for all taxing authorities. Collections are distributed (at/after) the end of each month.

Property Tax Calendar

January 1 Tax is levied and becomes an enforceable lien against the properties.
February 14 Tax bills are mailed
April 30 First of two equal installment payments are due
May 31 Assessed value of property established for next year's levy at 100 percent of market value.
October 31 Second installment is due

Property tax revenues are recognized when cash is received by (city/county/district). Delinquent taxes are considered fully collectible because a lien affixes to the property after tax is levied.

[1] The (city/county/district’s) regular levy for the year 20__ was $__________ per $1,000 on an assessed valuation of $__________ for a total regular levy of $__________.

Washington State Constitution and Washington State law, RCW 84.55.010, limit the rate.

Instructions to preparer:

[1] The levy information in this note should be for the fiscal year being reported.

If your government has any special levies, they should be disclosed separately. For example:

In 20, the (city/county/district) levied also $_____ per $1,000 for (give purpose) for a total additional levy of $_____.

Counties should add the following paragraph and should supplement the note with disclosure of any diverted road levy as authorized by RCW 84.52.043(1)(d).

The county is also authorized to levy $2.25 per $1,000 of assessed valuation in unincorporated areas for road construction and maintenance. This levy is subject to the same limitations as the levy for general government services. The county's road levy for 20__ was $_____ per $1,000 on an assessed valuation of $ for a total road levy of $_____.