Exemption
Subsidized housing
Leasehold Excise Tax exemption · RCW 82.29A.130(3) · enacted 1976
Details
- Citation
- RCW 82.29A.130(3)
- Study reference
- E1309-1
- Tax type
- Leasehold Excise Tax
- Preference type
- Exemption
- Category
- Government
- Year enacted
- 1976
- End date
- 2034-01-01 00:00:00
Fiscal impact (2024 study estimates)
- Revenue if repealed — local ($M)
- FY 2024: 0 · FY 2025: 10.8 · FY 2026: 15.5 · FY 2027: 16.8
- Revenue if repealed — state ($M)
- FY 2024: 0 · FY 2025: 12.3 · FY 2026: 17.7 · FY 2027: 19.1
- Taxpayer savings — local ($M)
- FY 2024: 13.3 · FY 2025: 14.4 · FY 2026: 15.5 · FY 2027: 16.8
- Taxpayer savings — state ($M)
- FY 2024: 15.2 · FY 2025: 16.4 · FY 2026: 17.7 · FY 2027: 19.1
CTI = confidential taxpayer information · D = unable to disclose
From the 2024 DOR Tax Exemption Study
82.29A.130(3) - Subsidized housing Description All leasehold interests of subsidized housing owned by the U.S. government, the state, or any political subdivision are exempt from leasehold excise tax if income qualifications for the housing exist. Purpose To support public housing for low-income individuals. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $15.200 $16.400 $17.700 $19.100 Local Taxes $13.300 $14.400 $15.500 $16.800 Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $12.300 $17.700 $19.100 Local Taxes $0.000 $10.800 $15.500 $16.800 Assumptions - This repeal takes effect July 1, 2024, and impacts nine months of collections in fiscal year 2025. - Annual increase in monthly rents will match observed increases from 2018 to 2022. - The number of subsidized housing units will remain the same. Data Sources - U.S. Department of Housing and Urban Development Additional Additional Information Information Category: Government Year Enacted: 1976 Primary Beneficiaries: Public housing authorities and the individuals who reside
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