A. In accordance with and as authorized by RCW 82.46.035(2), there is hereby levied and imposed an additional excise tax on each sale of real property within the corporate limits of the city of Lynnwood at a rate of one-quarter of one percent of the selling price of said real property.

B. The additional excise tax imposed hereunder shall be collected from those persons who are taxable by the state of Washington under Chapter 82.45 RCW upon the occurrence of any taxable event within the corporate limits of the city.

C. The imposition, administration and collection of the excise tax shall comply with all applicable rules, regulations, laws and court decisions regarding real estate excise taxes as imposed by the state of Washington under Chapters 82.45 and 82.46 RCW. (Ord. 2612 § 1, 2006)