Washington Administrative Code › Title 458 - Revenue, Department of › Chapter 458-18 - Property tax Abatements, credits, deferrals and refunds › Section 458-18-220 - Refunds-Rate of interest

Current through Register Vol. 24-14, July 15, 2024
(1)
Introduction.
Interest applies to refunds of taxes made pursuant
			 to RCW
			 84.69.010 through
			 84.69.090 in accordance with
			 RCW
			 84.69.100. Interest also applies to judgments
			 entered in favor of the plaintiff pursuant to
			 RCW
			 84.68.030.
(2)
Calculation of interest
			 rate.
The interest rate is calculated from the equivalent coupon issue
			 yield of the average bill rate for 26-week treasury bills as determined at the
			 first bill market auction conducted after June 30th of the calendar year
			 preceding the date the taxes were paid.
(3)
Interest rates.
The
			 following rates are applied to the amount of the judgment or the amount of the
			 refund, until paid:
Year tax
Auction
paid
Year
Rate
1984
1983
9.29%
1985
1984
11.27%
1986
1985
7.36%
1987
1986
6.11%
1988
1987
5.95%
1989
1988
7.04%
1990
1989
8.05%
1991
1990
8.01%
1992
1991
5.98%
1993
1992
3.42%
1994
1993
3.19%
1995
1994
4.92%
1996
1995
5.71%
1997
1996
5.22%
1998
1997
5.14%
1999
1998
5.06%
2000
1999
4.96%
2001
2000
5.98%
2002
2001
3.50%
2003
2002
1.73%
2004
2003
0.95%
2005
2004
1.73%
2006
2005
3.33%
2007
2006
5.09%
2008
2007
4.81%
2009
2008
2.14%
2010
2009
0.29%
2011
2010
0.21%
2012
2011
0.08%
2013
2012
0.15%
2014
2013
0.085%
2015
2014
0.060%
2016
2015
0.085%
2017
2016
0.340%
2018
2017
1.130%
2019
2018
2.085%
2020
2019
2.040%
2021
2020
0.165%
2022
2021
0.050%
2023
2022
2.50%
2024
2023
5.26%
Statutory Authority:
				  RCW
				  84.34.360,
				  84.34.065,
				  84.34.141, and
				  84.69.100. 13-02-053, §
				  458-18-220, filed 12/26/12, effective 1/1/13; 12-01-040, § 458-18-220,
				  filed 12/13/11, effective 1/1/12. Statutory Authority:
				  RCW
				  84.69.100. 11-02-017, § 458-18-220,
				  filed 12/29/10, effective 1/1/11; 10-07-038, § 458-18-220, filed 3/10/10,
				  effective 4/10/10; 08-24-094, § 458-18-220, filed 12/2/08, effective
				  1/2/09; 07-24-037, § 458-18-220, filed 11/30/07, effective 12/31/07;
				  06-21-059, § 458-18-220, filed 10/16/06, effective 11/16/06; 05-22-096,
				  § 458-18-220, filed 11/1/05, effective 12/2/05; 04-24-101, §
				  458-18-220, filed 12/1/04, effective 1/1/05; 03-24-014, § 458-18-220,
				  filed 11/20/03, effective 12/21/03; 02-23-081, § 458-18-220, filed
				  11/19/02, effective 12/20/02; 02-03-039, § 458-18-220, filed 1/8/02,
				  effective 2/8/02; 00-24-106, § 458-18-220, filed 12/6/00, effective
				  12/31/00; 99-24-033, § 458-18-220, filed 11/23/99, effective 12/24/99.
				  Statutory Authority:
				  RCW
				  84.08.010,
				  84.08.070 and
				  84.69.100. 99-01-066, §
				  458-18-220, filed 12/14/98, effective 1/1/99; 98-01-177, § 458-18-220,
				  filed 12/23/97, effective 1/1/98; 97-02-068, § 458-18-220, filed 12/31/96,
				  effective 1/1/97; 96-01-093, § 458-18-220, filed 12/19/95, effective
				  1/1/96; 95-06-044, § 458-18-220, filed 2/24/95, effective 3/27/95;
				  94-05-063, § 458-18-220, filed 2/11/94, effective 3/14/94. Statutory
				  Authority:
				  RCW
				  84.08.010 and
				  84.69.100. 93-06-096, §
				  458-18-220, filed 3/3/93, effective 4/3/93; 92-17-027, § 458-18-220, filed
				  8/11/92, effective 9/11/92; 91-15-024, § 458-18-220, filed 7/11/91,
				  effective 8/11/91. Statutory Authority:
				  RCW
				  84.69.100 and
				  84.08.010(2).
				  89-10-067 (Order PT 89-6), § 458-18-220, filed 5/3/89; 88-07-003 (Order PT
				  88-3), § 458-18-220, filed 3/3/88. Statutory Authority:
				  RCW
				  84.69.100 as amended by 1987 c 319 and
				  84.08.010(2). 87-19-141 (Order PT 87-7), § 458-18-220, filed
				  9/23/87.