Expanding the property tax exemption for new and rehabilitated multiple-unit dwellings in urban centers.
Summary
Expands eligibility for the 12-year Multifamily Property Tax Exemption for new and rehabilitated multi-unit residential housing projects, allowing projects located in certain urban areas designated by any city or town with a population of less than 15,000 to qualify for a tax exemption until July 1, 2023.
Creates a new 15-year Multifamily Property Tax Exemption for new and rehabilitated multi-unit residential housing projects, allowing projects located in certain urban areas designated by any city or town with a population of less than 15,000 and meeting certain other conditions, to qualify for a tax exemption until July 1, 2023.
From the Substitute House Bill Report (SSB 6347), written by the Legislature's nonpartisan staff. Read the full report ↗
Did not passDid not pass · passed Senate, stalled in House
By resolution, returned to Senate Rules Committee for third reading. (SSB 6347)
Referred to Finance. (SSB 6347)
Minority; do not pass. (SSB 6347)
CDHT - Majority; do pass with amendment(s). (SSB 6347)
First reading, referred to Community Development, Housing & Tribal Affairs (Not Officially read and referred until adoption of Introduction report). (SSB 6347)