File #: 2026-0039    Version: 1
Type: Ordinance Status: In Committee
File created: 3/3/2026 In control: Budget and Fiscal Management Committee
On agenda: Final action:
Enactment date: Enactment #:
Title: AN ORDINANCE relating to the real estate excise tax, number 2 fund; and amending Ordinance 12076, Section 27, as amended, and K.C.C. 4A.200.590 and Ordinance 10455, Sections 1, 3, 4, as amended, and K.C.C. 4A.510.120.
Sponsors: Rod Dembowski
Indexes: Funds, Real Estate, Taxes
Attachments: 1. 2026-0039 Transmittal Letter, 2. 2026-0039 Fiscal Note, 3. 2026-0039 LegislativeReviewForm

Drafter

Clerk 02/26/2026

Title

AN ORDINANCE relating to the real estate excise tax, number 2 fund; and amending Ordinance 12076, Section 27, as amended, and K.C.C. 4A.200.590 and Ordinance 10455, Sections 1, 3, 4, as amended, and K.C.C. 4A.510.120.

Body

                     BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:

                     SECTION 1.  Ordinance 12076, Section 27, as amended, and K.C.C. 4A.200.590 are hereby amended to read as follows:

                     A.  ((t))There is hereby created the real estate excise tax, number 2 fund.

                     B.  The fund shall be a first tier fund.  It is a capital projects fund.

                     C.  The budget lead in the executive's office shall be the manager of the fund.

                     D.  All receipts from K.C.C. ((4.32.012)) 4A.510.120 shall be deposited in the fund.

                     E.  The fund may only be used:

                       1.  ((f))For the planning, construction, reconstruction, repair, rehabilitation or improvement of parks located in or providing a benefit and open to residents of the unincorporated area of King County; or

                       2.  For the planning, acquisition, construction, reconstruction, repair, replacement, rehabilitation, or improvement of roads and bridges in the unincorporated area of King County necessary to respond to, or mitigate damages resulting from, an emergency proclaimed by the county executive. The uses specified in this subsection E.2. expire March 31, 2027.

                     SECTION 2.  Ordinance 10455, Sections 1, 3, 4, as amended, and K.C.C. 4A.510.120 are hereby amended to read as follows:

                     There is hereby levied and there shall be collected by King County on each sale of real property situated in unincorporated King County an additional tax equal to one quarter of one percent of the selling price.  The proceeds of the tax imposed by this section shall be credited to the real estate excise tax, number 2 fund and may only be used:

                     A.  ((f))For the planning, construction, reconstruction, repair, rehabilitation or improvement of parks located in or providing a benefit and open to residents of the unincorporated area of King County; or

                     B.  For the planning, acquisition, construction, reconstruction, repair, replacement, rehabilitation, or improvement of roads and bridges in the unincorporated area of King County necessary to respond to, or mitigate damages resulting from, an

emergency as proclaimed by the county executive.  The uses specified in this subsection B. expire March 31, 2027.