A. The threshold amount for the first fiscal year following the annexation and adoption of the tax authorized by this chapter is as follows: $2,100,000.

B. The city finance director shall forward to the Washington State Department of Revenue the amount of the threshold amount for the first fiscal year following the annexation and adoption of the tax.

C. No later than March 1st of each year, the finance director shall provide the Washington State Department of Revenue with a new threshold amount for the next fiscal year, and notice of any applicable tax rate changes. (Ord. 6123 § 1, 2008.)