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Trustee Support Resources

Other Definitions

“Local infrastructure financing”
“… the use of revenues received from local excise tax allocation revenues, local property tax allocation revenues, other revenues from local public sources, and revenues received from the local option sales and use tax authorized in RCW 82.14.475, dedicated to pay either the principal and interest on bonds authorized under RCW 39.102.150 or to pay public improvement costs on a pay-as-you-go basis subject to RCW 39.102.195, or both.” RCW 39.102.020(11)
“Library capital facility area”
“… a quasi-municipal corporation and independent taxing authority within the meaning of Article VII, section 1 of the Washington State Constitution, and a taxing district within the meaning of Article VII, section 2 of the state Constitution, created by a county legislative authority of one or several counties. A library capital facility area may include all or a portion of a city or town.” RCW 27.15.010.
“Library capital facilities”
“includes both real and personal property including, but not limited to, land, buildings, site improvements, equipment, furnishings, collections, and all necessary costs related to acquisition, financing, design, construction, equipping, and remodeling.” RCW 27.15.010(3).
“Special purpose districts”
As defined by the Municipal Research and Services Center of Washington (MRSC) in their publication, Special Purpose Districts in Washington State, “In Washington, special purpose districts are limited purpose local governments separate from a city, town, or county government. Generally, they perform a single function, though some perform a limited number of functions. They provide an array of services and facilities including electricity, fire protection, flood control, health, housing, irrigation, parks and recreation, library, water-sewer service, and more recently, public transportation, stadiums, convention centers, and entertainment facilities. Special districts provide a means for citizens to obtain these services for a specific geographic area when they are not otherwise available from a city or county.” Page 7 of MRSC’s “Washington Special Purpose Districts Overview” features a very helpful graphical overview of the various types of library special purpose districts in the state.
“Tax code area”
“a geographical area made up of a unique mix of one or more taxing districts, which is established for the purpose of properly calculating, collecting, and distributing taxes. Only one tax code area will have the same combination of taxing districts, with limited exceptions.” WAC 458-19-005(x). See also WAC 458-12-140(1)(3).
“Value of the taxable property”
“… the actual value of the taxable property in a taxing district incurring indebtedness, as the term “taxing district” is defined in RCW 39.36.010, to be ascertained by the last assessment for state and county purposes previous to the incurring of such indebtedness except that in incorporated cities the assessment shall be taken from the last assessment for city purposes, plus the timber assessed value for the district as defined in RCW 84.33.035RCW 39.36.015.

The National Association of Counties (NACO) provides more definitions in their Research Brief, Finance Terms Every Commissioner Should Know. The Washington State Office of Financial Management has an extensive A – Z Glossary with clear explanations of many fiscal terms.