Action Alert! Contact your legislators now to pass Multifamily Tax Exemption

Ask your legislators today to pass a strong Multifamily Tax Exemption (MFTE) proposal so your city will have the tools to address the housing needs of your community.

HB 2620/SB 6411 allow all cities to voluntarily offer a property tax exemption for either eight or twelve years to spur multifamily development. In addition, if it works in your real estate market, the bills allow cities to dedicate a portion of those apartments for low income households. The new proposals allow smaller cities access to the MFTE option for the first time and allow all cities to extend the tax exemption in exchange for continued affordability.

The MFTE is one of the few tools cities have that directly reduce the cost of development—with minimal cost to both state and local government.

Call or email your legislators today and ask them to support HB 2620 and SB 6411 and to avoid amendments that would layer so many new requirements onto the program that it ceases to be the powerful tool we have today.

Contact your legislators today!