Seattle social housing advocates aim to put payroll tax initiative on November ballot
A group called House Our Neighbors on Tuesday launched a drive to put a social housing payroll tax initiative before Seattle voters in November.
Employers would pay a 5% tax on an individual's total annual compensation over $1 million.
House Our Neighbors policy director Tiffani McCoy said this will generate roughly $53 million a year for an already voter-approved public development authority (PDA) and provide funds to preserve and build around 2,000 permanently affordable homes over 10 years.
City voters last year passed Initiative 135, which created the PDA and led to the appointment of a 13-member governing board. But the PDA lacks money beyond temporary funding from the city and state to stand up the PDA.
https://www.bizjournals.com/seattle/news/2024/02/06/social-housing-advocates-back-payroll-tax-seattle.html
= new reply since forum marked as read
