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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 In2019
Program nameHistoric Preservation Program
Program purpose: Historic Preservation
Statutory authority: Chapter 84.26 RCW
Abating jurisdiction(s): King County, Washington
Applicable taxesProperty Tax
Method of abatement: Reduction in assessed value
Provisions for recapture: If disqualified, there shall be added to the tax an additional tax equal to (a) the cost multiplied by the levy rate in each year the property was subject to special valuation; plus (b) interest on the amounts of the additional tax at the statutory rate charged on delinquent Property Tax from the dates on which the additional tax could have been paid without penalty if the property had not been valued as historic property under this chapter; plus (c) a penalty equal to 12 percent of the amount determined in (a) and (b).
Gross revenue loss: $584,000
Reimbursement / offset: $0
Net revenue loss: $584,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://kingcounty.gov/depts/finance-business-operations/financial-manag...