Housing Measure Wins in Seattle Special Election
Seattle voters approved Proposition 1A in a special election this week, supporting a 5 percent tax on employee compensation over $1 million per year that will fund social housing, reports Kipp Robertson for King 5 News.
“By approving Prop. 1A, voters have also rejected the alternative, Prop. 1B. Proposition 1B, supported by the Seattle Metropolitan Chamber of Commerce, proposed using $10 million annually for five years from existing city funds,” Robertson adds.
The measure is expected to generate roughly $50 million per year for housing projects.
The city’s voters approved a nearly $1 billion housing levy in 2023, which taxed property owners 45 cents per $1,000 of assessed value.
