Multifamily Tax Exemption
The Multifamily Property Tax Exemption (MFTE) Program provides a tax exemption on new multifamily buildings in exchange for setting aside 20-25% of the homes as income- and rent-restricted. By supporting mixed-income residential development in the urban centers, the MFTE program ensures affordabilty as the community grows.
The MFTE program was renewed on November 1st, 2015. Click here to see the new ordinance.
- Developers and owners applying to the MFTE program can contact Mike Kent at 206.684.0262 for more information.
- Prospective renter applicants can find more information about the MFTE program and other income and rent restricted properties here.
- Property managers at buildings participating in MFTE can find compliance resources here.
- Current MFTE tenants can find resources on their rights and responsibilities here.
- Ordinance 118505: New MFTE Legislation (effective November 1st, 2015)
- SMC 5.73: Multifamily Housing Property Tax Exemption Program
- RCW 84.14: New and Rehabilitated Multiple-Unit Dwellings in Urban Centers
- Director's Rule 01-2013: Verification of Number and Type of Dwelling Units
- Director's Rule 01-2009: Calculation of Maximum Rent
- Director's Rule 02-2016: Clarification of Defined Terms
- Notice of Potential Changes to MFTE Residential Target Areas: Public notice and hearing (September 2015)
- 2016 MFTE Program Annual Report (NEW!)
- 2015 MFTE Program Annual Report
- Attachment A - MFTE Project Roster
- Attachment B1 - Map of MFTE Approved Applications, by Year
- Attachment B2 - Map of All MFTE Projects, by Status, P4 Eligible Areas
- Attachment B3 - Map of All MFTE Projects, by Status, P5 Eligible Areas
- Attachment C - Market and MFTE Rents for Projects Receiving Final Certificates in 2015
- Attachment D - MFTE Projects Expiring at End of 2015
- Attachment E - Property Tax Impact Analysis for Tax Year 2016
- Attachment F - Locations of Projects Receiving MFTE Final Certificates in 2015
- 2014 MFTE Program Annual Report