Washington State Continues Search for Housing Affordability Solutions

As Washington continues to experience a severe housing affordability crisis, state legislators may finetune some existing tax incentive programs to encourage greater development. Among them is the multifamily tax exemption program created following passage of the Growth Management Act. Implemented at the local level, the tax exemption makes development more affordable upfront while delaying tax revenue otherwise collected. Since 2019, 35,000 residential units have been produced through the MFTE program.