The City of Shoreline offers multi-family residential Property Tax Exemptions (PTE) to encourage multifamily development. The program is only available for investors who build or rehabilitate four or more units. Initially established in 2002, the dynamic PTE program currently has two distinct expressions in the City.
The Affordable PTE Program
- The applicant must commit to renting or selling affordable housing units to low-income households as defined in Ordinance No. 520.
- The length of exemption is either 8 or 12 years, depending on the level of affordability met.
- The Affordable PTE program is offered in two areas:
The Market-rate PTE Program
- The applicant does NOT need to comply with affordability requirements according to Ordinance No. 624.
- The length of exemption is 5 years.
- The Market-rate PTE Program is offered in the following areas:
To apply for a Conditional or Final Certificate of Property Tax Exemption, please use the following forms: