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.
| State: | Washington |
| Effected Jurisdiction: | City of Seattle |
Jurisdiction type: | Municipality |
| Fiscal year ending In: | 2022 |
| Program name: | Multi-Unit Housing Property Tax Exemption |
| Program purpose: | Affordable Housing |
| Statutory authority: | RCW 84.14.020 |
| Abating jurisdiction(s): | State of Washington |
| Applicable taxes: | Real Property Tax |
| Method of abatement: | Tax Exemption |
| Provisions for recapture: | If a portion of the property no longer meets the exemption requirements, the tax exemption is canceled and a lien will be placed on the land for the additional real property tax on the value of the non-qualifying improvements plus a 20 percent penalty and interest |
| Gross revenue loss: | $8,792,000 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $8,792,000 |
| Type of loss: | Passive |
| Additional notes on dislosure: | (none) |
| Document source: | https://www.seattle.gov/documents/Departments/CityFinance/FinancialServi... |
