spot_imgspot_img

Seattle city leaders call victory for affordable housing levy

spot_img

(The Center Square) – Despite votes still being counted, Seattle city leaders are calling a victory over the proposed affordable housing levy currently sitting at a 66% voter approval.

The ballot measure replaces an expiring seven-year property tax levy with a new levy that is anticipated to collect $970 million through 2030, or $138.6 million annually. Out of the total generated revenue, the most spending would be approximately $707 million toward creating and preserving affordable rental housing for seniors, homeless people and other low-income households.

“Today’s passage of the Seattle Housing Levy by Seattle voters shows our community’s commitment to finding solutions for the housing, displacement, and homelessness crises,” Seattle City Councilmember Teresa Mosqueda said in a Wednesday statement.

Mosqueda added that the levy would build on the previous successes from the original housing levy, including over 16,000 people estimated to live in levy-supported homes at any given time and increased housing stability for thousands of families.

“The return on these investments is immeasurable, and we should be immensely proud as a community,” Mosqueda said.

For 2024, the new tax levy will start at 45 cents per $1,000 of assessed value, or $383 a year for the median Seattle homeowner. That is approximately $261 more per year than the expiring levy’s median cost of $122 per year.

The affordable housing levy was unanimously endorsed by the Seattle City Council after Mayor Bruce Harrell proposed it in March 2023.

“We know issues of affordability, housing access, and homelessness are strongly interconnected, and this comprehensive package is designed to make a meaningful impact,” Harrell said following the initial votes. “The levy means more resources to build more affordable places and permanent supportive housing for people to live.”

DON’T MISS OUT

Be the first to know about the latest news, giveaways, events, and updates from The Black Chronicle!

We don’t spam! Read our privacy policy for more info.

spot_img
spot_img

Hot this week

African and Caribbean Nations Call for Reparations for Slave Trade, Propose Global Fund

Nations across Africa and the Caribbean, deeply impacted by...

Sports betting expert offers advice on paying taxes for gambling winnings

(The Center Square) – Tax season is underway, and...

Health care company agrees to pay $22.5 million to settle claims of over billing

A health care company agreed to pay nearly $22.5...

Entertainment district benefits don’t outweigh the cost, economists say

(The Center Square) — Weeks later, after more details...

Business association ‘disappointed’ by WA L&I’s proposed workers comp rate hike

(The Center Square) – The Association of Washington Business...

Don’t Trust The Drugs: The Dangerous Lack Of Diversity In Clinical Trials

Many medications today are tested mainly on white men...

Schools face additional regulation under new Illinois laws

(The Center Square) – Starting Jan. 1, Illinois schools...

Trump endorses Robson in 2026 Arizona gubernatorial race

(The Center Square) – President-elect Donald Trump addressed convention...

One Woman’s Fight To Expose The Genetic Disease That Made Her An Orphan

Casey Mulligan Walsh only found out she had a...

New Illinois laws affect drivers beginning Jan. 1

(The Center Square) – Several new laws go into...

Prices rose over 20% under Joe Biden’s administration

President Joe Biden is only a few weeks away...

Spokane Valley eyes process to forfeit surplus properties for affordable housing

(The Center Square) – Spokane Valley officials discussed legislation...

More like this
Related

Don’t Trust The Drugs: The Dangerous Lack Of Diversity In Clinical Trials

Many medications today are tested mainly on white men...

Schools face additional regulation under new Illinois laws

(The Center Square) – Starting Jan. 1, Illinois schools...

Trump endorses Robson in 2026 Arizona gubernatorial race

(The Center Square) – President-elect Donald Trump addressed convention...

One Woman’s Fight To Expose The Genetic Disease That Made Her An Orphan

Casey Mulligan Walsh only found out she had a...