City News

News Releases

Posted on: June 14, 2022

Public Meeting To Discuss Multifamily Property Tax Exemption Program

Graphic that reads

The Mountlake Terrace City Council and the Planning Commission will host a presentation on Multifamily Property Tax Exemption Programs on Thursday, June 16, as part of the Council’s regular work session.

 

The presentation, provided by The Concord Group (TCG), will focus on Multifamily Property Tax Exemption programs that are authorized by Washington state law RCW 84.14. These allow developers of multifamily projects to apply for a property tax exemption for an eight-year or 12-year period. The exemption is only on the residential improvements value or portion of a project. 

 

Many communities within the Puget Sound area have used this tool to help them meet state and local goals of encouraging residential opportunities in urban centers with insufficient housing, while at the same time, incentivizing the development of housing units that are at a greater level of affordability, i.e., below market rates. TCG will also discuss additional development incentives that cities sometimes offer to help them meet similar goals. 

 

Another City Council discussion on this topic is likely to follow on June 30. Additional meetings could take place depending on the direction provided by the City Council. 

 

This special meeting is set for 6 p.m. and will be the city’s first hybrid City Council meeting, meaning it will occur both in person and via Zoom. After the presentation by TCG, other agenda items include Review of 2022 First Quarter Police Department Report, Review and Approval of City Council Subcommittee Recommendation for Board/Commission Member Appointments, and Juneteenth Independence Day Proclamation. Action is scheduled on board and commission appointments and the proclamation because the June 21 regular meeting is cancelled.

                                                                          
To attend in person, the location is the City Council Chambers at City Hall, 23204 58th Avenue W. To attend via Zoom, use this link:
https://us02web.zoom.us/j/81446922986, with passcode 061622.


For more information, contact Stephen Clifton, Assistant City Manager, at 425-744-6209 or sclifton@mltwa.gov.

 

###

Facebook Twitter Email

Other News in News Releases

"Terrace Talk Utilities" on green background with graphics of laptop and person in hybrid meet

March 13 Terrace Talk to Focus on Utilities

Posted on: February 26, 2024 | Last Modified on: May 1, 2023

Joint Statement on MLT Senior Services

Posted on: February 13, 2024

8 Things to Know About MLT’s New Tree Code

Posted on: January 29, 2024 | Last Modified on: May 1, 2023

Sign Up for Women’s Self-Defense Class

Posted on: November 2, 2023

MLT Police Investigate Drive-by Shooting

Posted on: October 18, 2023

City Council Meetings Move to Thursdays

Posted on: October 5, 2023

Public Meetings to Start for Vision 2044

Posted on: September 26, 2023

Arts of the Terrace Opens Saturday

Posted on: September 20, 2023

Passport Program Expands Hours

Posted on: June 21, 2023

Meet City Manager Candidate Finalists

Posted on: February 22, 2023

City Proposes 2023-24 Budget for Review

Posted on: October 24, 2022

Tour de Terrace Returns July 22-24

Posted on: July 12, 2022

Library Exhibit Features MLT Artist

Posted on: April 1, 2022

Sign Up Soon for MLT Summer Camps

Posted on: March 4, 2022

City Offices to Close for Holiday

Posted on: February 17, 2022

City Council Selects 2022 Leadership

Posted on: January 4, 2022

City Offices to Close for Holidays

Posted on: December 20, 2021

City Seeks Input on Use of Pandemic Aid

Posted on: December 15, 2021

New Tree to Adorn Town Center Plaza

Posted on: November 23, 2021

Clear Storm Drains During Wet Weather

Posted on: October 21, 2021
Female Burglary Suspect

Police Seek Suspect in Mosque Burglary

Posted on: October 20, 2021

Pavilion, Pool Reopen Saturdays

Posted on: October 1, 2021

Ballinger Waterfront Work Continues

Posted on: September 30, 2021
Art show

MLT Lodging Tax Grants Available

Posted on: September 27, 2021
Swim Lesson Group in pool

Vouchers Available for Swim Lessons

Posted on: January 31, 2022