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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionKing County
Jurisdiction type: County
Fiscal year ending In2020
Program nameMulti-Unit Urban Housing Exemption
Program purpose: Construction/rehabilitation
Statutory authority: Chapter 84.14 RCW
Abating jurisdiction(s): State of Washington
Applicable taxesProperty Tax Property Tax
Method of abatement: Tax Exemption
Provisions for recapture: If the recipient of the tax abatement fails to comply with the statutory requirements of this Chapter a lien will be placed on the property in the amount of the real Property Tax that would normally be imposed, plus a penalty and interest.
Gross revenue loss: $12,959,000
Reimbursement / offset: $0
Net revenue loss: $12,959,000
Type of loss: Passive
Document sourcehttps://kingcounty.gov/depts/finance-business-operations/financial-manag...