Seattle Mayor Bruce Harrell has proposed a $970 million housing levy to help address the city’s growing affordable housing needs. The levy would be the largest property tax increase in Seattle’s history and would generate funds for the construction of 3,000 new affordable housing units, as well as the operation and maintenance of those units.
Harrell said the levy is necessary to meet the scale of the housing crisis in Seattle. The city has seen a sharp increase in the cost of housing in recent years, making it difficult for many people to afford to live here. The housing crisis has also led to a sharp increase in homelessness.
The levy would be a significant investment in affordable housing in Seattle. If approved by voters, it would be the largest single source of funding for affordable housing in the city’s history. The funds would be used to build new affordable housing units, as well as to provide rental assistance and other services to low-income families.
The levy is not without its critics. Some people have argued that it is too large and that it will place an unfair burden on homeowners. Others have argued that the levy will not do enough to address the root causes of the housing crisis.
Despite the criticism, Harrell is confident that the levy will be approved by voters. He said that the levy is a necessary investment in the future of Seattle and that it will help to make the city a more affordable place to live.
The levy will be on the November ballot. If approved by voters, it would go into effect in 2024.