Washington HB2673 establishes tax exemptions for property used as affordable housing owned or operated by a social housing agency.

HB2673 creates property tax exemptions for affordable housing owned or operated by social housing agencies in Washington. These agencies must use the property exclusively for housing low-income or moderate-income households. The bill defines "low-income" as households with income at or below 80% of median income and "moderate-income" as those at or below 120% of median income. The tax exemption applies to property used for housing, not for commercial purposes, unless it is used for up to 53 days for a qualifying farmers market.

Washington HB2673 establishes tax exemptions for property used as affordable housing owned or operated by a social housing agency.

HB2673 creates property tax exemptions for affordable housing owned or operated by social housing agencies in Washington. These agencies must use the property exclusively for housing low-income or moderate-income households. The bill defines "low-income" as households with income at or below 80% of median income and "moderate-income" as those at or below 120% of median income. The tax exemption applies to property used for housing, not for commercial purposes, unless it is used for up to 53 days for a qualifying farmers market.