Bill > SB5467

This bill updates the rules for water-sewer districts selling surplus property by modifying two existing laws. The first change increases the threshold for personal property sales that do not require public notice from $2,500 to $5,400, allowing districts to sell smaller items without going through a formal notification process. The second change raises the threshold for private real estate sales from $5,000 to $7,500, and maintains existing requirements that real property must be sold for at least 90% of its estimated value. If a district cannot sell the property at 90% of its value after 120 days, they may then sell it at public auction at the highest obtainable price, with proper public notice. The bill requires that property values be determined by professional real estate brokers or appraisers, with a written assessment filed and made available for public inspection. These modifications provide water-sewer districts with more flexibility in managing and disposing of surplus property while maintaining transparency in the sales process.

Government Affairs

https://app.leg.wa.gov/billsummary?BillNumber=5467&Year=2025&Initiative=false