Multifamily Tax Exemption
What is the multifamily tax exemption?
The multi-family tax exemption (MFTE) is a tax incentive for the construction of new, rehabilitated, or converted multifamily housing. This authority is granted by RCW 84.14.
What is the incentive?
As authorized by the City Council, the City will waive property tax associated with eligible multifamily residential development for a period of eight (8) years. The city does not require an affordable housing component as a prerequisite for eligibility.
What is multifamily defined as?
A qualified development must be new, rehabilitated, or converted housing that provides at least four residential units.
Where can I build?
This incentive is only eligible within select districts. The City Council authorized the Rock Hill Residential Target Area (below). Multifamily developments within this target area may be eligible for this incentive.
Where can I get more information?