FINAL BILL REPORT

SB 6212

C 253 L 20

Synopsis as Enacted

Brief Description: Concerning the authority of counties, cities, and towns to exceed statutory property tax limitations for the purpose of financing affordable housing for very low-income households and low-income households.

Sponsors: Senators Das, Keiser, Lovelett, Zeiger, Dhingra, Saldaña, Nguyen, Kuderer, Warnick, Randall, Darneille, Van De Wege, Conway and Wilson, C.

Senate Committee on Housing Stability & Affordability

Senate Committee on Ways & Means

House Committee on Finance

Background: Counties and cities may impose an affordable housing property tax levy to finance affordable housing for very-low income households. The additional regular property tax levy is up to $0.50 per $1,000 assessed valuation each year for up to ten consecutive years, and must be approved by a majority of voters of the taxing district. Very-low income households are defined as 50 percent or less of the county's median income.

Summary: Funds from the affordable housing property tax levy may be used for affordable homeownership, owner-occupied home repair, and foreclosure prevention programs for low-income households. Low-income households are defined as a single person, family, or unrelated persons living together whose income is at or below 80 percent of the median income, with adjustments for household size, for the county where the taxing district is located.

Votes on Final Passage: