While Portland has gained a reputation for sustainability, we are forgetting that we must also be financially sustainable.
The new tax would only apply to those that received tax exemptions given to developers and to above average income housing. We would maintain exemptions for only those residences actually occupied by lower income people.
We suggest a tax rate of about 2% of real market value.
Hopefully, this will recover about $30 million per year from tax free loaders.
What can be better, in our time of need, than to tax than those who are getting a free ride?