Snohomish developer tax break story left out details

Published 1:30 am Tuesday, August 23, 2022

Regarding Herald reporter Isabella Breda’s Aug. 18 article, “Small step toward affordable housing is big debate in Snohomish”:

The story omitted some facts:

1. The $2 million hypothetical example originated from Glen Pickus, city planning director, who estimated it from one little city lot in the Pilchuck District. However, Pickus refuses to plan, forecast or estimate the number of new dwelling units in the newly created 102-acre Midtown District. He states “it is impossible to estimate the number of dwelling units,” even though the building codes allow a maximum 165 units per acre with five-story, wood-framed buildings now allowed in the Midtown District.

2. The county assessor used an example of 1,485 dwelling units at $400,000 per unit (excluding land cost) in the Midtown area. So $594 million in exempted value causes a tax increase of $6.4 million or more a year upon city and Snohomish School District property owners. That works out for an average city residence, valued at $468,700, being stuck with an extra yearly tax bill of $334 for eight to 12 years.

3. Pickus claims that the Midtown area can’t accommodate 1,400 new dwelling units; yet, his own Midtown ordinance requires a minimum of 16 units per acre. 1,400 units divided by 102 acres yields only 14 units per acre. So the citizens can estimate their own tax increase.

Yes, Mr. Pickus, the multi=family tax exemption is “frankly a small step toward temporary affordable housing,” but a giant leap in property taxes upon non-exempt owners and another giant leap in the amount of corporate welfare given to influential developers who can certainly build without the tax exemption.

Morgan Davis

Snohomish