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<DIV><FONT size=4>I have a client who is purchasing real estate (written E.M.
agreement) for $15,000. The county assessed FMV is about $110,000. Buyer
and seller are not related parties. No other consideration is being paid. The
seller had tried unsuccessfully to sell these bare lots for several years, and
just decided to get rid of them at what is clearly a very low
price.</FONT></DIV>
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<DIV><FONT size=4>Title company says the County will “red tag “ this one. (which
I take it means that they won’t accept the stated sale price for excise tax
purposes).</FONT></DIV>
<DIV><FONT size=4></FONT> </DIV>
<DIV><FONT size=4>Does the County get to charge excise tax on its FMV assessed
value, notwithstanding this is a bona fide sale for the smaller amount? Is
there a procedure (buyer and seller doing declarations etc) to cause the county
to accept the actual sale price for excise tax purposes?</FONT></DIV>
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<DIV><FONT size=4>thanks</FONT></DIV>
<DIV><FONT size=4></FONT> </DIV>
<DIV><FONT size=4>Josh</FONT></DIV>
<DIV><FONT size=4></FONT> </DIV>
<DIV style="FONT-SIZE: 14pt; FONT-FAMILY: 'Calibri'; COLOR: #000000">Joshua F.
Grant, PS<BR>Attorney at Law<BR>P. O. Box 619<BR>Wilbur, WA 99185<BR>tel 509 647
5578<BR>fax 509 647 2734<BR></DIV></DIV></DIV></BODY></HTML>