Washington State
House of Representatives
Office of Program Research		 BILL
ANALYSIS
Housing Committee

HB 1450

This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent.

Brief Description: Modifying provisions that exempt housing for very low-income households from taxation.

Sponsors: Representatives Sells, Strow, Miloscia, Curtis, O'Brien, B. Sullivan, Roberts, Lovick, Appleton, Kenney, Ormsby and Hasegawa.

Brief Summary of Bill
  • Adds two funding sources to the list of funding sources which, if utilized by a very low-income rental housing development, will qualify the development for a property tax exemption.

Hearing Date: 2/5/07

Staff: Robyn Dupuis (786-7166).

Background:

Property owned or used by a nonprofit entity to provide rental housing for very-low income households or used to provide space for the placement of a mobile home for a very-low income household within a mobile home park is exempt from property taxes if at least 75% of the units on the property are occupied by very low-income households and if the housing is financed or otherwise assisted by:
   1. A federal or state housing program administered by the Department of Community, Trade    and Economic Development (DCTED); or
   2. A county, city, or town affordable housing levy.

Summary of Bill:

Rental properties for very low-income households owned or used by nonprofit entities which have received financial assistance from a federal program administered by a city or county government or from document recording fee surcharges imposed for the purpose of affordable housing development or to reduce homelessness are exempt from property taxes.

Appropriation: None.

Fiscal Note: Requested on January 30, 2007.

Effective Date: The bill takes effect 90 days after adjournment of session in which bill is passed.