Nonprofit low-income rental housing

From the 2024 DOR Tax Exemption Study

84.36.560 - Nonprofit low-income rental housing Description Property tax does not apply to real and personal property owned or used by a “nonprofit entity” that provides rental housing for qualifying households, or mobile home spaces rented to qualifying households within a mobile home park, or mobile home park cooperative. The exemption’s must benefit the nonprofit entity, and at least 75% of the dwelling units must be occupied by households with incomes at or below 60% of the median income, adjusted for household size, for the county where the property is located. If the dwelling units are occupied by less than 75% of qualifying households, the nonprofit entity may receive a partial exemption. The housing must be insured, financed, or assisted in whole, or in part, by one or more of the following sources: - A federal or state housing program administered by the Department of Commerce. - A federal housing program administered by a city or county government. - A local affordable housing property tax levy. - Certain authorized affordable housing and homeless housing and assistance surcharges. - Financing by the Washington State Housing Finance Commission. Purpose Encouraging the con