Washington Code 82.29A.160 – Improvements not defined as contract rent taxable under Title 84 RCW
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Notwithstanding any other provision of this chapter, RCW 84.36.451 and 84.40.175, improvements owned or being acquired by contract purchase or otherwise by any lessee or sublessee which are not defined as contract rent shall be taxable to such lessee or sublessee under Title 84 RCW at their full true and fair value without any deduction for interests held by the lessor or others.
[ 1986 c 251 § 1; 1975-’76 2nd ex.s. c 61 § 18.]
Terms Used In Washington Code 82.29A.160
- Contract: A legal written agreement that becomes binding when signed.
- Contract rent: means the amount of consideration due as payment for a leasehold interest, including: The total of cash payments made to the lessor or to another party for the benefit of the lessor according to the requirements of the lease or agreement, including any rents paid by a sublessee; expenditures for the protection of the lessor's interest when required by the terms of the lease or agreement; and expenditures for improvements to the property to the extent that such improvements become the property of the lessor. See Washington Code 82.29A.020