Washington Administrative Code
Title 458 - Revenue, Department of
Chapter 458-53 - Property tax annual ratio study
Section 458-53-140 - Personal property ratio study

Universal Citation: WA Admin Code 458-53-140

Current through Register Vol. 23-24, December 15, 2023

(1) Introduction.This rule provides information about the personal property ratio study, including the basis for a county's personal property ratio, the determination of strata for each county, and the effect of the discovery of omitted property on the ratio study.

(2) Basis for personal property ratio. The basis for a county's personal property ratio will be valuation data with respect to personal property from the three years preceding the current assessment year.

(3) Stratification of rolls. Determination of strata for each county will be made by the department to ensure the selection of a representative audit sample and will be reviewed periodically. After the strata have been determined, the department will notify the counties of the strata limits and each county must provide the department with the following, taken from the county's assessment rolls:

(a) A representative number of samples, as determined by the department, in each stratum, together with:
(i) The name and address of the taxpayer for each sample;

(ii) The previous year's assessed value for each sample;

(iii) The current year's assessed value for each sample; and

(iv) The actual number of samples;

(b) The total number of personal property accounts in each stratum; and

(c) The total assessed value in each stratum for both the previous and the current years.

(4) Omitted property. If the department discovers omitted property in a county, the results of the department's audit will be included in the ratio study.

Amended by WSR 16-11-031, Filed 5/10/2016, effective 6/10/2016

Statutory Authority: RCW 84.08.010, 84.08.070, and 84.48.075. 02-14-031, § 458-53-140, filed 6/24/02, effective 7/25/02; 96-05-002, § 458-53-140, filed 2/8/96, effective 3/10/96. Statutory Authority: RCW 84.48.075. 84-14-039 (Order PT 84-2), § 458-53-140, filed 6/29/84; 79-11-029 (Order PT 79-3), § 458-53-140, filed 10/11/79. Formerly WAC 458-52-080.

Disclaimer: These regulations may not be the most recent version. Washington may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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