A. There is hereby levied and imposed an excise tax on each sale of real property within the corporate limits of the city of Everett at a rate of one-quarter of one percent of the selling price of said real property.

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

C. Said 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 RCW Chapter 82.45 and WAC Chapter 458-61. (Ord. 1244-86 § 1, 1986.)