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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 nameHistoric Properties Incentives
Program purpose: Historic Preservation
Statutory authority: Chapter 84.26 RCW, RCW 84.26.020(2) and RCW 84.26.050(2)
Abating jurisdiction(s): King County, Washington
Applicable taxesReal Property Tax
Method of abatement: Reduction in assessed value
Provisions for recapture: When property classified and valued as eligible historic property under RCW 84.26.070 becomes disqualified for the valuation, additional taxes, applicable penalties and interest are collected.
Gross revenue loss: $1,359,000
Reimbursement / offset: $0
Net revenue loss: $1,359,000
Type of loss: Passive
Additional notes on dislosure(none)
Document sourcehttps://www.seattle.gov/documents/Departments/CityFinance/FinancialServi...