It’s been dubbed the Affordable Housing Act, but House Bill 1628, also known by most as the ‘Real Estate Tax Bill,’ proposes to increase the supply of affordable housing by allowing cities to adjust the state and local real estate excise tax.
The bill, sponsored by Rep. Frank Chopp (D-Seattle) made it out of committee and is now headed to the House.
“Across the state, there is a housing crisis,” Chopp said in March. “There is a tremendous shortage of housing, and the great need is for homes for people with low incomes.”
“We have a very serious crisis in housing and I believe this is a tool to address it,” said April Berg (D-Mill Creek).
