Affordable Housing Through MFTE
The Cove is proud to participate in Seattle’s Multifamily Property Tax Exemption (MFTE) program. This program provides property owners with a tax exemption in exchange for discounting 20% of an apartment building’s units for qualified individuals. This ensures affordability as our neighborhood and city grow! MFTE applicants must make below an income threshold set by the city.
Income Thresholds
In order to qualify for MFTE apartment homes at the Cove, household income must be below the following:
Studio: 65% of the area median income
1-bedroom: 75% of the area median income
2-bedroom: 85% of the area median income
Application Process
The Cove is in MFTE Program 4. In this version of the program, prospective residents must only qualify for the program at the time of application. Unlike in newer versions of the program, residents do NOT need to requalify on an annual basis and risk losing their MFTE discount!