Section 84.33.145. Compensating tax.

(1) If no later than thirty days after removal of designation under this chapter the owner applies for classification under:

(a) RCW 84.34.020(1);

(b) RCW 84.34.020(2); or

(c) RCW 84.34.020(3), unless the timberland classification and designated forestland program are merged under RCW 84.34.400, then, for the purposes of (a), (b), or (c) of this subsection, the designated forestland may not be considered removed from designation for purposes of the compensating tax under RCW 84.33.140 until the application for current use classification under chapter 84.34 RCW is denied or the property is removed from classification under RCW 84.34.108.

(2) Upon removal of classification under RCW 84.34.108, the amount of compensating tax due under this chapter is equal to:

(a) The difference, if any, between the amount of tax last levied on the land as designated forestland and an amount equal to the new assessed valuation of the land when removed from classification under RCW 84.34.108 multiplied by the dollar rate of the last levy extended against the land, multiplied by

(b) A number equal to:

(i) The number of years the land was designated under this chapter, if the total number of years the land was designated under this chapter and classified under chapter 84.34 RCW is less than ten; or

(ii) Ten minus the number of years the land was classified under chapter 84.34 RCW, if the total number of years the land was designated under this chapter and classified under chapter 84.34 RCW is at least ten.

(3) Nothing in this section authorizes the continued designation under this chapter or defers or reduces the compensating tax imposed upon forestland not transferred to classification under subsection (1) of this section that does not meet the definition of forestland under RCW 84.33.035. Nothing in this section affects the additional tax imposed under RCW 84.34.108.

(4) In a county with a population of more than six hundred thousand inhabitants or in a county with a population of at least two hundred forty-five thousand inhabitants that borders Puget Sound as defined in RCW 90.71.010, no amount of compensating tax is due under this section if the removal from classification under RCW 84.34.108 results from a transfer of property described in RCW 84.34.108(6).

[ 2014 c 137 § 4; 2012 c 170 § 2; 2009 c 354 § 4; 2001 c 249 § 4; 1999 sp.s. c 4 § 704; 1997 c 299 § 3; 1992 c 69 § 3; 1986 c 315 § 3.]

NOTES:

Finding—Intent—2009 c 354: See note following RCW 84.33.140.

Part headings not law—1999 sp.s. c 4: See note following RCW 77.85.180.

Effective date—1997 c 299: See note following RCW 84.33.140.

Effective date—1992 c 69: See RCW 84.34.923.

2014 c 137 § 4; 2012 c 170 § 2; 2009 c 354 § 4; 2001 c 249 § 4; 1999 sp.s. c 4 § 704; 1997 c 299 § 3; 1992 c 69 § 3; 1986 c 315 § 3.