Seattle Prepares to Vote on Housing Levy
The Seattle City Council voted unanimously this week to put a $145 million, seven-year property tax on the November ballot to raise money for affordable housing.
The council backed Mayor Greg Nickels' proposal after some early speculation that a smaller amount would go before voters in these hard times.
The proposed levy would cost $17 per $100,000 of assessed property value. That would be about $79 a year for the average Seattle homeowner, an increase from the current $49 housing levy.
Under the proposal, $104 million would be dedicated to building or renovating 1,670 affordable rental units. The council said that 60 percent of the $104 million would be reserved for people earning no more than 30 percent of the area median income.
If there's a community that will support a housing levy, it's Seattle. The city has voted in favor of a levy on three occasions. Will Seattle make it four?
The council backed Mayor Greg Nickels' proposal after some early speculation that a smaller amount would go before voters in these hard times.
The proposed levy would cost $17 per $100,000 of assessed property value. That would be about $79 a year for the average Seattle homeowner, an increase from the current $49 housing levy.
Under the proposal, $104 million would be dedicated to building or renovating 1,670 affordable rental units. The council said that 60 percent of the $104 million would be reserved for people earning no more than 30 percent of the area median income.
If there's a community that will support a housing levy, it's Seattle. The city has voted in favor of a levy on three occasions. Will Seattle make it four?
posted by Donna Kimura at 8:21 AM
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