For Multi-Family Tax Exemption (MFTE), once a project has met programmatic criteria the owner can expect to save approximately $1,180 on their tax bill for every $100,000 of Exempt Assessed Value on the housing portions of the property The exemption of assessed value is only applied to housing portions of the property. Download the calculator to help you estimate your possible property tax savings.
Form Instructions: users will need to right-click and download the forms to complete, save them to your desktop, and then send them as an attachment in an email to: email@example.com
The City of Spokane's Multi-Family Tax Exemption (MFTE) program offers a partial property tax exemption for new improvements that create multi-family housing. The exemption period is 8 years for market rate projects, and 12 years for projects where at least 20% of the units are occupied and affordable to those with an income of no more than 115% of Area Median Income The program is based on state law (RCW 84.14) and described in the Spokane Municipal Code (SMC 08.15).
Here are a couple key things to remember about this program:
Contact Teri Stripes,
Economic Development Specialist at: