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: | 2022 |
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:![]() | $110,000 |
Reimbursement / offset:![]() | $0 |
Net revenue loss:![]() | $110,000 |
Type of loss:![]() | Active |
Additional notes on dislosure: | (none) |
Document source: | https://www.seattle.gov/documents/Departments/CityFinance/FinancialServi... |