Bainbridge Island, WA property tax exemption for multi-family developments for affordable housing
The Bainbridge Island City Council approved a 12 to 20 year property tax exemption for multi-family developments to encourage affordable housing. Rental housing developments must have at least 20 to 25% of units rented to low-income households to qualify while condominiums must sell 100% of units to low-income families to qualify. Taxes would still be owed on the value of the land or any “non-residential” development.
Low-income Housing+3
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