Thursday, July 14, 2016

Portland, Ore., City Council approves construction excise tax for affordable housing

The Portland, Ore., City Council approved a 1% construction excise tax. The tax is expected to raise $8 million a year to fund affordable housing initiatives. 

Both residential and commercial projects are subject to the tax. The Oregon Legislature repealed a 17-year-old ban on inclusionary housing rules earlier this year, opening the door for Portland’s tax. 

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