Showing 3 of 3
bills
All housing bills
House Bill 1494 modifies existing property tax exemptions for new and rehabilitated multiple-unit dwellings in urban centers. The bill clarifies definitions related to "affordable housing" and the population requirements for cities to qualify for these exemptions. A key provision expands the definition of "rehabilitation improvements" to include modifications to occupied buildings that increase the number of multi-family housing units. These changes do not extend the duration of the exemptions or expand them to include conversions of market-rate buildings to affordable housing. The bill primarily affects property owners, developers, and residents involved with multi-unit housing projects in designated urban areas.
SB 5553 creates a sales and use tax deferral program for developers converting underutilized commercial buildings or constructing new multifamily housing in areas with housing shortages. It requires at least 10% of units to be affordable to low-income households for 10 years and mandates completion within three years (with a possible 24-month extension). Cities must adopt specific application, approval, and appeal processes, and developers must verify they would not build without the incentive. This directly affects developers of qualifying affordable housing projects and local governments implementing the program.
SB 5554 requires cities in Washington to adopt or update local regulations for residential and mixed-use properties within one year to align with new historic landmark designation rules. The bill prohibits cities from designating properties under 40 years old as historic landmarks and mandates written owner consent for any designation that restricts property use, alteration, or demolition - without consent, such designations are invalid. Exceptions apply only for properties within existing historic districts established under local ordinances. The law overrides conflicting local rules and applies to all cities, including code cities, with specific provisions for implementation timelines.
