Affordable Housing: Seattle City Council Advances $970M Property Tax

Affordable Housing: Seattle City Council Advances $970M Property Tax

The Seattle City Council has taken a major step forward in its effort to provide voters with a $970 million property tax levy for the purpose of building affordable housing, increasing pay for human services workers, and funding homeownership programs.

Mayor Bruce Harrell proposed the measure – which would triple the existing Seattle Housing Levy set to expire this year – citing rising cost of living and homelessness as reasons why it is necessary. The council is expected to give final approval next Tuesday before voters have their say during November’s election when seven council seats will also be on the ballot.

Should it pass, funds will go towards constructing 2,881 affordable rental apartments and 277 homes for sale while 635 existing affordable apartments are improved upon. Up to $30 million could also be spent on short-term loans given out by nonprofits so they can purchase apartment buildings already in existence.

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