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File #: 21-0129    Version: 1
Type: report Status: Filed
File created: 1/27/2021 In control: Finance Committee
Agenda date: 2/17/2021 Final action: 2/17/2021
Title: Budget Snapshot - Real Estate Excise Tax Revenue

Title

Budget Snapshot - Real Estate Excise Tax Revenue

 

Recommended Action

Committee Recommendation:

Not referred to a committee.

 

City Manager Recommendation:

Receive a briefing on the Real Estate Excise Tax revenue, how it is paid and the allowed uses.  No action required.

 

Report

Issue:

Receive a briefing on the Real Estate Excise Tax revenue, how it is paid and the allowed uses.

 

Staff Contact:

Nanci Lien, Finance Director, 360.756.8465

 

Presenter(s):

Nanci Lien, Finance Director, Finance Department

 

Background and Analysis:

The City receives Real Estate Excise Tax revenue, a tax levied on the sale of real property located within City limits.  The revenue can be used for various purposes identified in State statutes. 

 

Staff will present information on how Real Estate Excise Tax is paid, who pays it, its allowed uses, and how the City has historically used it.

 

Neighborhood/Community Interests (if known):

N/A

 

Options:

1.                     Receive the briefing.

2.                     Do not receive the briefing.

3.                     Receive the briefing at another time.

 

Financial Impact:

N/A

 

Attachments:

None