Seattle Housing Levy. (October 2023)

A critical initiative to fund affordable housing and address the housing crisis.

The Seattle Housing Levy is once again up for consideration by voters in November. If passed, the levy would allocate $970 million to new affordable housing development over the next seven years, more than triple the previous housing levy passed in 2016. The levy aims to create and maintain 3,158 affordable homes, provide rent assistance for 4,500 families, and help nearly 300 new low-income homeowners. Most of the funding will go to nonprofit affordable housing developers who will combine the levy dollars with other public and philanthropic funding sources.

The levy has received support from a wide range of political groups, including progressive and labor organizations, as well as business-friendly groups like the Chamber of Commerce and Downtown Seattle Association. However, there is opposition to the levy from a group called Seattle For Growth, which argues that enough money has already been invested in affordable housing and that the tax is burdensome.

The cost of the levy has increased significantly compared to the 2016 levy. The jump in cost is due to both an increase in the tax rate and the rising housing prices in Seattle. The median homeowner would now pay $383 per year, compared to $122 under the previous levy.

Despite the increase in cost, it is expected that the levy will pass, as Seattle voters have historically shown support for new taxes to fund services. The levy aims to address the deepening housing crisis in Seattle and provide an urgent response to the demand for affordable housing.

What do you think of the Seattle Housing Levy? Do you believe it is necessary to allocate more funding for affordable housing in the city? Or do you think enough has already been invested? Share your thoughts and opinions in the comments below.