Washington Administrative Code › Title 458 - Revenue, Department of › Chapter 458-53 - Property tax annual ratio study › Section 458-53-080 - Real property sales sample selection

Current through Register Vol. 24-14, July 15, 2024
(1)
Sales included.
Except as provided in subsection (2) of this
			 section, the sales study shall consider all transactions involving a warranty
			 deed or a real estate contract that occurred during the twelve-month period
			 described in WAC
			 458-53-070(2).
			 Sales of mobile homes located on land owned by the owner of the mobile home
			 shall also be included in the real property ratio study when the mobile home
			 meets the definition of real property as defined in
			 RCW
			 84.04.090. Sales of mobile homes on leased
			 land should be included in the invalid sales report utilizing a code 27 and the
			 comment "MH on leased land." In the case of a county generated sales study (see
			 WAC 458-53-100 ), the county may use
			 a representative sample of all such transactions with the prior written
			 approval of the department.
(2)
Sales excluded.
Sales or transfers of real property involving
			 instruments other than a warranty deed or real estate contract shall not be
			 considered in the sales study. The following types of sales transactions are
			 examples of sales to be excluded from the sales study, regardless of the type
			 of sale instrument used. Differences from the numerical coding designations set
			 forth in this example may be used by individual counties with prior approval
			 from the department.
NUMERICAL CODE
TYPE OF TRANSACTION
1
Family - A sale between relatives.
2
Transfers within a corporation by its
						affiliates or subsidiaries.
3
Administrator, guardian or executor of an
						estate.
4
Receiver or trustee in bankruptcy or equity.
5
Sheriff or bailee.
6
Tax deed.
7
Properties exempt from taxation (nonprofit,
						government, etc.).
8
Individual sales with assessment-to-sales
						ratios of less than twenty-five percent or greater than one hundred
						seventy-five percent except as provided in WAC
						458-53-070.
9
Quitclaim deed.
10
Gift deed; love and affection deed.
11
Seller's or purchaser's assignment of
						contract or deed - Transfer of interest.
12
Correction deed.
13
Trade - Exchange of property between same
						parties.
14
Deeds involving partial interest in property,
						such as one-third or one-half interest. (If transfer involves total interest
						i.e., one hundred percent of the property, sale is valid.)
15
Forced sales - Transfers in lieu of imminent
						foreclosure, condemnation or liquidation.
16
Easement or right of way.
17
Deed in fulfillment of contract .
18
Property physically improved after sale.
19
Timber or forest land.
20
Bare lots platted within the twelve-month
						time period described in WAC
						458-53-070(2),
						with less than twenty percent sold.
21
Plottage - When a larger unit of land is
						being assembled and an adjoining property is sold at a price significantly
						different from the price of property of a similar type.
22
$1,000 sale or under.
23
Lease - Assignment, option, leasehold.
24
Classified as "current use" under
						chapter
						84.34 RCW as of date of
						sale.
25
Change of use where rezoning takes place.
26
Current year segregations that have not been
						appraised.
27
Other - Necessary to identify reason.
Statutory Authority:
				  RCW
				  84.08.010,
				  84.08.070 and
				  84.48.075. 96-05-002, §
				  458-53-080, filed 2/8/96, effective 3/10/96. Statutory Authority:
				  RCW
				  84.48.075. 84-14-039 (Order PT 84-2), §
				  458-53-080, filed 6/29/84; 83-16-050 (Order PT 83-2), § 458-53-080, filed
				  8/1/83; 79-11-029 (Order PT 79-3), § 458-53-080, filed
				  10/11/79.