OLYMPIA, Wash. -- Washington state is home to some of the wealthiest people in the country and it also is facing a housing crisis, so lawmakers may tap some state residents' wealth to address the issue.

Legislators in Olympia are considering a bill which would revise the estate tax.

It would exempt up to $2.5 million in wealth passed on generation to generation but increase it progressively above that to 40% for estates worth more than a billion dollars.

John Burbank, executive director of the Economic Opportunity Institute, said 10% of estate taxes would go to a newly established equity-in-housing fund.

"Which would be targeted specifically to neighborhoods and communities that are experiencing a real hurt in terms of housing," Burbank explained. "And it would be focused on rental assistance and foreclosure prevention for people living in those communities."

House Bill 1465 would also address racial wealth inequities.

It's estimated the revised estate tax would generate an additional $100 million annually.

Opponents argue the economy is too delicate from the pandemic to increase taxes.

Another bill, House Bill 1406, would create a wealth tax, applying a 1% tax on assets such as stocks and bonds valued above one billion dollars.

Washington's billionaires have raked in more than $150 billion since the pandemic began.

Burbank said meanwhile, the state faces a large budget hole from the virus.

"The pandemic sort of emphasizes the very fragility of our public services and the lack of funding for those public services, which was in fact already the case before the pandemic began," Burbank contended.

Burbank noted the tax would generate about $2.5 billion a year, and added Washington needs to provide appropriate public services to help people in need.

"That will decrease the level of poverty, and it will begin to bring our state together in terms of people's incomes and hopes and aspirations and quality of life," Burbank concluded.

More than half of all renters in Oregon and a third of homeowners experience a housing cost burden, according to new research. Housing advocates say investing $45 million in down payment assistance will help open the door to homeownership.

Karen Saxe, director of policy, advocacy, and strategic relationships with Dev Northwest, said Culturally Responsive Organization Down Payment Assistance funds would help lessen the gap between rising housing prices and what people can actually afford.

"Our team works with people every day that have put in the hard work and face the ongoing challenge of saving for a down payment as prices throughout their lives continue to climb," she explained.

In many cases, rent can be higher than a mortgage payment would be for a similarly sized house or condo. The down payment assistance is part of Governor Kotek's proposed budget for 2025 to 2027, and is expected to directly benefit 750 first-time homebuyers.

Challenges with buying a home are more severe for first-generation homebuyers, many of whom are people of color. Saxe explains the organizations receiving the funding, including her own, are culturally responsive, meaning they cater to the needs of the communities they serve.

"So that might be language access. That might be when classes or counseling are offered. It might be the amount of down payment assistance," she continued.

Oregon Housing and Community Services' first "state of the state's housing" report found that for every dollar Oregonians earned in wage increases, the median sales price of a home increased by over $7. Though she says there is still a long way to go, Saxe is optimistic that Oregon is heading in the right direction.

"It's exciting to see the governor's request budget, when we were seeing investments in a home ownership like we've never seen before," she said.

Saxe added that Dev Northwest's average client needs about $40,000 in down payment assistance in order to make a mortgage affordable.


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John Park, mayor of Brookhaven, joined more than 250 mayors at the 93rd annual winter meeting of the U.S. Conference of Mayors in Washington, D.C.

They discussed shared challenges and innovative solutions from addressing aging infrastructure to advancing public safety technology and combating the housing affordability crisis. Park emphasized the importance of collaboration and forward-thinking strategies.

"We have infrastructure that's old that we need to replace, and those things cost money," Park pointed out. "And not only is it finding resources to pay for it but it's also doing it the right way, doing it in a sustainable way so we're not right back here in the future."

Park explained Brookhaven is already revamping its stormwater management and connectivity projects by integrating sidewalks, greenways and multiuse paths with infrastructure upgrades to improve sustainability and enhance residents' quality of life.

Park highlighted the importance of addressing the housing affordability crisis, noting it is not just a local issue but a national one. He stressed cities like Brookhaven must work hand-in-hand with federal agencies to find solutions.

"We have to find ways to fight that affordability problem," Park acknowledged. "And we can do that through policymaking and coordinate that policymaking with national resources."

Brookhaven's public safety initiatives stood out as a highlight Park shared with fellow mayors. He described the city's 911 system, which has drastically improved response times.

"When a caller dials 911, the geocoded police officer in the area can listen on the conversation," Park explained. "They can't interact with it, they can listen and understand what's going on and actually arrive before the call is completed."

Park emphasized innovative practices not only improve response times but also demonstrate how Brookhaven is leveraging technology to build safer communities. He said other ways they're using technology is through its drone programs and artificial intelligence.


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Virginia has a housing shortage of more than 200,000 units, and one legislative effort backed by a coalition of faith-based groups is trying to fill that gap. A bill introduced in the General Assembly would allow local governments to create a streamlined process for faith groups and other property-tax-exempt nonprofits to build affordable housing.

Sheila Herlihy Hennessee, director of faith organizing for the Virginia Interfaith Center for Public Policy, said congregations run into many different roadblocks when trying to build housing on their land.

"Congregations don't do this every day. A developer might do three or four big housing projects per year. A faith community might do one in a century. This is not their bread and butter, so there's a big learning curve with figuring out how to make that happen," she said.

She added that other issues include resistance from neighbors to increasing population density - and zoning laws across the state that are mostly geared toward single-family housing, and said working around those zoning laws can be arduous and time consuming.

A report by Housing-Forward Virginia and the Interfaith Center finds faith-based organizations own a substantial amount of land - more than 74,000 - in the Commonwealth. That's double the size of Richmond.

Herlihy Hennessee, who also co-authored the report, said the bill would provide the same, streamlined process now used to build affordable housing to other nonprofits.

"So, this very explicitly says, 'Yes, localities, you do have the authority to make the process easier for faith communities. Yes, localities, you can cut down on the NIMBY-ism. Yes, you can make this cost less money and move faster," she explained.

The legislation would also create a pilot program, where faith communities can apply for funds to cover pre-development costs, such as feasibility studies, site plans, architects and more.


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