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Council discusses multifamily tax‑exemption program; staff outline tradeoffs and affordability options
Summary
Washougal City staff spent more than an hour reviewing the city’s multifamily tax‑exemption program and the tradeoffs involved in extending, ending or modifying the program.
Washougal City staff spent more than an hour reviewing the city’s multifamily tax‑exemption (MFTE) program and the tradeoffs involved in letting the existing 8‑year program expire or extending and modifying it.
What the program is and options under state law
Staff explained the key options in state law: an 8‑year exemption (no state affordability requirement, commonly used to incentivize market‑rate multifamily); a 12‑year exemption (requires at least 20% of units at low‑to‑moderate income levels); and a 20‑year model (requires at least 25% of units to be sold to a qualified nonprofit or local government partner for long‑term affordable homeownership). Staff said the 8‑year…
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