The latest news of interest to multifamily owners of apartment buildings in Oregon and Washington.
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Wednesday, August 23, 2017
State of Oregon Expects to Return $464 Million to Residents
Oregon collected $464 million more in personal income taxes than expected this biennium, triggering the "kicker" rule, which goes into effect when revenue exceeds expectations by more than 2%. The increased revenue is largely do to the strength of the state's economy, which has seen steady growth over the past few years and currently has an unemployment rate below the national average. Oregon's general fund will also receive an additional $87 million. The kicker will not provide a windfall to individual residents, however - the middle 20% of income earners should expect to receive an estimated $91. Read more.