Seattle’s booming economy has worsened an acute housing shortage.
In response, the city council recently passed a new tax that will impose a levy on companies with annual revenues of $20 million of about $275 per full-time employee every year. The new so-called “Amazon tax” takes effect in January 2019, and is expected to raise almost $45 million a year for five years.
Roughly 60% of the revenue will help fund new affordable housing, and 40% will go toward emergency services for the homeless. Seattle leads the nation in crane count for major U.S. metros, but the new tax may throw cold water on the hot construction market.
The city is coping with a growing homeless population, and many supporters of the head tax argue that the growth of tech companies like Amazon has contributed to the problem. Highly paid tech workers have been buying homes at a rapid pace, with prices rising quickly.
Related Stories
Codes and Standards | Jul 10, 2017
New mass plywood panel project moves ahead with federal grant
New material is substitute for concrete and steel in multi-story projects.
Codes and Standards | Jul 6, 2017
Trump ups ante on apprenticeships, gives private sector more room to design them
Initiative aimed at alleviating construction industry worker shortage.
Codes and Standards | Jul 6, 2017
Flawed modeling to blame for green buildings failure to live up to hype on energy efficiency
Explains energy performance gap from expected savings to actual savings.
Codes and Standards | Jul 5, 2017
Research study examines tall timber buildings worldwide
Industry group developing criteria for categorizing wide range of construction approaches to tall timber buildings.
Codes and Standards | Jun 30, 2017
AAMA releases new document on aluminum fenestration and energy efficiency
The free download addresses entrances, storefront framing, curtain walls, windows and skylight fenestration systems.
Codes and Standards | Jun 29, 2017
Fire codes prevent cladding used on Grenfell Tower from being used in U.S.
Reports suggest an extra $6,300 for fire-resistant cladding could have prevented the tragedy.
Codes and Standards | Jun 28, 2017
Minimum Design Loads and Associated Criteria for Buildings and Other Structures, Standards ASCE/SEI 7-16, has been updated
The document is used for determining design loads including dead, live, soil, flood, tsunami, snow, rain, atmospheric ice, earthquake, wind, and fire.
Codes and Standards | Jun 27, 2017
Cold-formed steel framing engineering guide for building projects released
Better sound attenuation for subfloors and exterior continuous insulation are among the matters addressed.
Codes and Standards | Jun 26, 2017
L.A.’s new ordinance requires energy and water efficiency benchmarking
Structures 20,000 sf and larger must demonstrate steps to boost efficiency.
Codes and Standards | Jun 21, 2017
World Green Building Council: All buildings must be net zero by 2050 to avert 2°C rise
Building efficiency essential to tempering global climate change.
