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.
State:
Washington
Reporting Jurisdiction:
Washington
Jurisdiction type
:
State
:
Fiscal year ending In:
2020
Program name:
Multi-Unit Urban Housing Tax Exemption
Program purpose:
Affordable housing
:
Statutory authority:
Revised Code of Washington (RCW) 82.08.986 and 82.12.988
:
Abating jurisdiction(s):
State of Washington
:
Applicable taxes:
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:
$28,434,000
:
Reimbursement / offset:
$0
:
Net revenue loss:
$28,434,000
:
Type of loss:
Active
:
Additional notes on dislosure:
(none)
