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<a href="http://app.leg.wa.gov/billsummary?BillNumber=1532&Year=2017" target="_blank"><strong>HB 1532</strong></a> would exempt properties from state and local property taxes that are owned by nonprofit entities for the purposes of developing residences for low-income households.
HB 1532 would exempt properties from state and local property taxes that are owned by nonprofit entities for the purposes of developing residences for low-income households. The bill intends to clarify the application of a bill passed for Habitat for Humanity last year to ensure that similar nonprofits who operate through slightly different models can also take advantage. The bill provides this limited property tax exemption while the lands are being held by the nonprofit and then once new tenants take over the exemption goes away. This bill clarifies the workings of this exemption when the nonprofit retains ownership of the land but the new homeowner owns the physical building.
We were neutral on this bill in previous years and intend to be so again unless we hear concerns from cities. Please contact Carl Schroeder with any thoughts.