Voters in Washington approved a property tax levy in which they agreed to take over for a levy that is set to expire at the end of this year, with homeowners paying more for the new one.
Starting in 2024 the levy will go from 18 cents to 30 cents per $1000 of assessed property value. Homeowners are looking up to pay up $150 per year for a $500,000 home.
The levy will cover 2,400 additional affordable housing units, emergency rent assistance for 2,500 families and 550 shelter beds. A new portion of this levy will include that at least 5% will go towards creating opportunities towards home ownership for at least 150 low income families.
The Vancouver Housing Authority will be a large factor in the city's affordable housing solutions. Although they were thrilled it wasn't a surprised that voters approved the property tax levy.
"I mean we sort of had faith that the Vancouver community would come through. I think this just speaks to the community and sort of their willingness to help support affordable housing in our community because it's a need—It's just so great," said a Vancouver Housing Authority representative.
Read KGW8's article "Vancouver voters pass new tax levy to support affordable housing," featuring the Vancouver Housing Authority.