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Amendments to City's Mulit-Family Tax Exemption Program Take Effect on Jan. 1

Applications under existing regulations accepted through Dec. 2012

Release Date: 10/22/2012 10:35:00 AM

MEDIA CONTACT: Ann Deasy, Public Information Coordinator, (509) 625-6318

 

The City of Spokane’s Multi-Family Tax Exemption program will be different in 2013. Applications for the tax exemption under the existing rules will be accepted until Friday, Dec. 28.

Last month, the City Council adopted a number of changes that will take effect on Jan. 1, 2013.
Most significantly, the residential areas where the tax exemption is applicable have been modified as have the rules surrounding qualification around affordability for low- and moderate-income households.

The MFTE ordinance and tax incentive are designed to encourage more housing options within the City, including affordable housing options. The incentive allows developments with at least four dwelling units in a single building in designated target areas to request a partial property tax exemption for eight or 12 years, depending on affordability. The targeted areas were chosen, in part, to help encourage revitalization of urban centers.

The changes to the program were vetted at two public open houses and two televised City Council meetings. The Spokane City Council adopted the changes to Ordinance C34909, attached, at its Sept. 24, 2012 Council meeting, and the revised Multi-Family Tax Exemption ordinance will be in effect until Dec. 31, 2017.

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