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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.

StateWashington
Effected JurisdictionCity of Seattle
Jurisdiction type: Municipality
Fiscal year ending In2018
Program nameCurrent Use
Program purpose: Conservation of farmland, forest, open space, or water
Statutory authority: RCW 84.33.130 and RCW 84.34.010
Abating jurisdiction(s): King County, Washington
Applicable taxesReal Property Tax
Method of abatement: Reduction in assessed value
Provisions for recapture: When land no longer meets the requirements for the respective classifications, abated taxes and applicable penalties and interest are collected.
Gross revenue loss: $50,000
Reimbursement / offset: $0
Net revenue loss: $50,000
Type of loss: Passive
Additional notes on dislosure(none)
Document sourcehttps://www.seattle.gov/city-finance/financial-and-audit-reports/annual-...