HomeMy WebLinkAboutHandout_REET_HB1867Jefferson County – Affordable Housing REET (HB 1867)
Affordable Housing REET (HB 1867)
Prepared for the Jefferson County Housing Task Force • Jefferson County, Washington
Why this matters for Jefferson County
•A countywide, voter-approved REET (up to 0.5%) would create a dedicated stream to close
gaps in affordable projects.
•San Juan County’s Home Fund shows a workable Washington model with transparent NOFAs
and measurable outcomes.
•Opponents cite market volatility and closing-cost impacts; we can mitigate via reserves,
sunsets, and clear voter transparency.
•ASK #1: Pass HB 1867-style authority for all counties/cities, with county crediting and strong
annual reporting.
•ASK #2: Authorize modest use of proceeds for predevelopment and infrastructure match to
speed delivery.
•ASK #3: Provide Commerce technical assistance for local program setup (competitive awards,
compliance).
What we’re asking Olympia
•ASK #1: Pass HB 1867-style authority for all counties/cities, with county-crediting and strong
annual reporting.
•ASK #2: Authorize modest use of proceeds for predevelopment and infrastructure match to
speed delivery.
•ASK #3: Provide Commerce technical assistance for local program setup (competitive awards,
compliance).
Hyperlinked bibliography
•HB 1867 (2025) – House Bill Report (Finance)
•HB 1867 bill page – WA Legislature
•San Juan County Home Fund (program hub)
•MRSC overview – Real Estate Excise Taxes (REET)