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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 JurisdictionCity of Seattle
Jurisdiction type: Municipality
Fiscal year ending In2022
Program nameHigh Technology
Program purpose: Job Creation/Retention
Statutory authority: Chapter 82.63 RCW
Abating jurisdiction(s): State of Washington
Applicable taxesSales and Use Tax
Method of abatement: Tax waiver
Provisions for recapture: If the project is used for any other purpose at any time during the 8-year certification period, the business must immediately repay a portion of the deferred taxes, determined by a sliding scale ranging from 100 percent recapture in the year 1 to 12.5 percent in year 8
Gross revenue loss: $12,367,000
Reimbursement / offset: $0
Net revenue loss: $12,367,000
Type of loss: Passive
Additional notes on dislosure(none)
Document sourcehttps://www.seattle.gov/documents/Departments/CityFinance/FinancialServi...