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