Seattle Mayor Seeks New Housing Levy

Seattle Mayor Greg Nickels has proposed a new housing levy to raise money for affordable housing in the city. It comes as the current seven-year, $86 million levy is set to expire this year.

Nickels wants a new seven-year levy that's even bigger-$145 million. For the average homeowner, the property tax would be $79 a year or as the mayor likes to say just $6.60 a month. The funds will go toward several areas, including $104 million to build and preserve about 1,670 affordable rental units.

Here's a link to watch a video of his announcement:

http://www.seattlechannel.org/videos/video.asp?ID=1060934