News Alert: Seattle City Council Passes a Housing Tax Resolution to Fund Affordable Housing

On October 20, 2014, Seattle City Council passed a resolution that directs City staff to draft legislation for a housing tax, or “linkage fee,” that would impose a new tax on every net square foot of new residential and commercial development in Seattle. The tax could be as high as $22 per square foot of new development. The idea behind the tax (which many have questioned) is that new development creates a demand for low-wage jobs, and these new jobs create a demand for affordable housing. Continue reading here.