The latest news of interest to multifamily owners of apartment buildings in Oregon and Washington.
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Wednesday, October 25, 2017
Washington County Considering Construction Excise Tax, Property Tax Levy
Washington county residents have been feeling the effects of the region's housing crunch, and county commissioners are looking at new sources of revenue to fund affordable housing. During a working session on Tuesday, the commissioners considered a construction excise tax and a special property tax levy as two likely options to raise the needed funds. Portland and Bend both have construction excise taxes, which are capped at 1% for residential construction. Public support for a countywide levy is only about 52%, though Board Chairman Andy Duyck thinks that outreach to city councils could improve a levy's chance of passing. Read more.