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