There is established and imposed an excise tax on each sale of real property in the corporate limits of the City at a rate of one-quarter of one percent of the selling price. Revenues generated from the tax imposed under this section are to be used by the City solely as authorized by law under Chapter 82.46 RCW, or any amendments thereto. [Ord. 4492 § 1, 2020; Ord. 3971, 2010; Ord. 3947, 2009; Ord. 2594 § 1, 1986; Code 1970 § 3.06.010.]