MultiFamily Property Tax Exemption (MPTE) Program
Tacoma's MPTE program provides a tax incentive to encourage development of a minimum of 4 new multifamily units to be located within one of 17 designated mixed use centers. The incentive exempts property taxes for either 8 or 12 years on the assessed improvement value, the latter option requiring at least 20% affordable units. If you are interested, click here for more detailed information and a map of the qualifying areas.
Applications may be submitted year-round to the City of Tacoma. An applicant must be the owner of a qualifying property located within the boundaries of a mixed-use center. Upon City Council approval, the applicant has three years to complete the new housing with the tax exemption starting the calendar year following completion. An application fee is charged, the amount varying based on project size and number of units to be developed. If you are interested, click here for an application form.