In accordance with RCW 82.46.035, and in addition to the excise tax on the sale of real property imposed by Section 3.04.010, there is hereby imposed an excise tax on each sale of real property located within the corporate limits of the City of Anacortes at the rate of one-quarter of one percent of the selling price to be collected by the city as prescribed in RCW 82.46.060. Proceeds from this additional tax shall be deposited in a separate account in the municipal capital improvements fund and expended as authorized by law under RCW 82.46.035. (Ord. 2891 § 1, 2012; Ord. 2174 § 2, 1991)