Mayor Wilson’s 2027-2028 Proposed Budget focuses on providing responsible fiscal management of public funds for the people of Seattle. After years of unsustainable one-time fixes that did not address the deficit in future years, the mayor’s first budget begins the important, necessary work of stabilizing Seattle’s budget so that we can continue to provide essential services to the people of this city.
The people of Seattle deserve good government that delivers a city that is safe, affordable, and inclusive for all of Seattle’s residents. Mayor Wilson’s 2027-2028 Proposed Budget is structured to provide it. The decisions made in this proposed budget are not easy and come amidst a difficult backdrop of an inherited ongoing General Fund deficit that is compounded by actions taken at the federal level. Mayor Wilson’s budget is intended to help Seattle residents build a resilient city and create the conditions for lasting prosperity by making real progress towards closing the deficit and breaking the cycle of annual budget crises.
For the Office of Housing, key highlights include:
- Supporting Our Affordable Housing Partners: Protecting and preserving the housing we already have remains one of our highest priorities by stabilizing the affordable housing ecosystem.
- Affordable Rental Housing Development: We will continue to fund the preservation, acquisition, rehabilitation, and construction of multi-family rental housing for people and families with low incomes. Meeting our Levy production, preservation, and operational goals remains a high priority.
- Community Investments through Site-Specific Developments: We are moving forward with affordable housing projects at Mt. Baker station, Lake City Community Center, South Park, Fort Lawton, and Montlake to meet the needs of our growing population in vibrant communities that feature access to transit, neighborhood small businesses, and services.
- Opportunities for Low-Income Homeowners: We are continuing support for low-income homeowners through funding for permanently affordable homes, first-time homebuyer assistance, and programs that offer emergency repairs and energy efficiency improvements.
The following is a summary of the Office of Housing’s significant budget actions:
- Given current revenue forecasts, Mayor Wilson is proposing $140 million for 2027 and $139 million for 2028 of JumpStart Payroll Expense Tax revenue to support Office Housing’s programs. This sustains affordable housing investments for the biennium.
- The Housing Levy remains a consistent, reliable foundation for affordable housing in Seattle, providing over $138 million in 2027 and $138 million in 2028.
- Given the structural deficit, one of the hardest decisions involves the JumpStart Payroll Expense Tax. The 2026 Year-End Supplemental Budget Ordinance makes a one-time reduction of $65 million of OH fund balance in the Jumpstart Payroll Expense Tax Fund.
- To support this reallocation, Mayor Wilson is directing our office to pursue multiple strategies for managing OH’s multifamily rental funds dedicated to new capital projects.
- This strategy helps avoid a significant cut to the amount of JumpStart PET in our future budgets.
- We will identify all possible actions and sources, including forward commitments of future year JumpStart PET funding, to meet existing obligations and to fund new projects to meet Seattle’s housing needs.
- We will continue to award current year Housing Levy funds.
- The City will continue to fulfill its commitments to awarded projects, using a different source or year of funding where necessary.
For more information on the proposed budget, read Mayor Wilson’s press release here.
Next Steps
Our office, in partnership with the mayor, is prioritizing steady and ongoing investments in annual housing operations, permanent supportive housing, homeownership, weatherization, home repair, and staffing. Operating contracts and capital projects underway will not be negatively impacted by these changes. We remain committed to ensuring existing projects are preserved.
Over the next two months, the City Council will review Mayor Wilson’s 2027-2028 Proposed Budget. Public hearings will be held October 6 and November 5. Final adoption of the budget is expected on November 20.
