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Council Mulls How to Spend Real Estate Tax

VANCOUVER, WA-The Vancouver City Council on Monday eschewed a staff recommendation on how to spend its real estate excise tax revenue, instead opting to think about it for another 90 days. The new deadline for a decision is Oct. 31.

By Brian K. Miller | Updated on July 16, 2002

VANCOUVER, WA-Rejecting a staff proposal to divide real estate excise tax revenue between city parks and transportation projects, the Vancouver City Council on Monday voted to ponder the possibilities for another 90 days while the city’s budget priorities are hammered out.

The quarter-percent excise tax on real estate transactions has been in effect since 1996, raising about $10 million for the Vancouver Parks Department, which has used the funds to develop some 22 parks. The quarter-percent excise tax on real estate transactions was set to expire at the end of the month, but has been extended.

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