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Sumner opens public hearing on proposed changes to multifamily tax-exemption program
Summary
City staff presented ordinance 29-22 to expand the multifamily tax exemption (MFTE) area in East Sumner and restrict the town center MFTE to projects that include affordable units; the council opened a public hearing and scheduled action for March 17.
Sumner Mayor Hayden opened a public hearing Monday on Ordinance 29-22, which would amend the city’s multifamily tax-exemption (MFTE) rules (SMC 3.52) to expand eligibility in the East Sumner neighborhood and limit the town-center exemption to projects that include affordable units.
Ryan Windisch, economic and community development director, told the council the MFTE exempts taxes on the increase in assessed value for improvements and said Sumner currently offers an eight-year exemption for market-rate projects and a 12-year exemption for projects that reserve at least 20% of units for low- and moderate-income households. Windisch said Ordinance 29-22 would expand the…
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