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 or Territory: | Washington |
| Effected Jurisdiction: | City of Seattle |
Jurisdiction type: | Municipality |
| Fiscal year ending In: | 2019 |
| Program name: | Multifamily Property Tax Exemption (MFTE) |
| Program purpose: | Affordable Housing |
| Statutory authority: | SMC Chapter 5.73 and RCW Chapter 84.14 |
| Abating jurisdiction(s): | City of Seattle, Washington |
| Applicable taxes: | Real Property Tax |
| Method of abatement: | Tax Exemption |
| Provisions for recapture: | If a property fails to comply with affordability restriction, the Director of Housing has the authority to cancel a Tax Exemption, and the Assessor has the authority to impose fines, collect back taxes, and charge interest on back taxes. |
| Gross revenue loss: | $11,000 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $11,000 |
| Type of loss: | Active |
| Additional notes on dislosure: | (none) |
| Document source: | https://www.seattle.gov/city-finance/financial-and-audit-reports/annual-... |
