Washington HB1494 amends property tax exemption rules for new and rehabilitated multiple-unit dwellings in urban centers.

Washington HB1494 modifies the criteria and duration of property tax exemptions for new and rehabilitated multiple-unit dwellings in urban centers. The bill sets specific conditions for qualifying for exemptions, including the number of units, affordability requirements, and zoning density. It also outlines the process for designating residential targeted areas and the responsibilities of local governments in managing these exemptions. The bill specifies the duration of exemptions, which vary based on the date of application and the type of housing project.

Washington HB1494 amends property tax exemption rules for new and rehabilitated multiple-unit dwellings in urban centers.

Washington HB1494 modifies the criteria and duration of property tax exemptions for new and rehabilitated multiple-unit dwellings in urban centers. The bill sets specific conditions for qualifying for exemptions, including the number of units, affordability requirements, and zoning density. It also outlines the process for designating residential targeted areas and the responsibilities of local governments in managing these exemptions. The bill specifies the duration of exemptions, which vary based on the date of application and the type of housing project.