What is the Multi-Family Tax Exemption (MFTE) Program?
The Multifamily Property Tax Exemption (MFTE) program provides opportunities for cities and counties to encourage the development of multifamily housing in certain areas.
Program is voluntary. The City can voluntarily choose to have an MFTE program, and multi-family project applicants can voluntarily choose to participate in the program.
Only properties located in a “Residential Target Area (RTA)” are eligible to apply for the MFTE. Cities decide where this RTA is located in their City.
Only multi-family projects that include a minimum of 4 dwelling units are eligible to participate in this program.
Cities may offer 8-year, 12-year, or 20-year tax exemptions with different requirements for public benefits, such as affordable housing.
The City of Puyallup MFTE Program is codified in PMC 3.70
November 14th, 2023, 6:30 pm, Topic - Public Hearing on proposed expansion of MFTE eligibility area and first reading of amendments to code (laws) governing the MFTE program in Puyallup
December 5th, 2023, 6:30 pm, Topic - Final adoption of expanded MFTE area and changes to MFTE program
What areas of Puyallup are eligible to participate in this tax exemption program?
Only areas designated in the MFTE program ordinance are eligible to participate in the MFTE program. The City is currently considering expanding the eligible area for the MFTE program. The map below depicts the existing MFTE program area (in yellow), the area under consideration for immediate designation for the newly expanded MFTE program area (in black), and the area under consideration for eventual future expansion (in grey with black dotted outline).