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County delays tax increase to support local businesses

September 05, 2024 | Multnomah County, Oregon


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County delays tax increase to support local businesses
During a recent government meeting, officials discussed a proposed ordinance aimed at delaying a scheduled tax increase and extending the deadline for a related financial report. The ordinance seeks to push back the automatic 0.8 percent tax increase from January 1, 2026, to January 1, 2027. This delay is intended to allow for a comprehensive review by a technical advisory committee, which will include demographers, economists, and financial experts. The committee's goal is to assess the financial needs of the Preschool for All program and provide recommendations to ensure it has adequate resources.

The meeting featured public testimony, with Jay Clark from the Portland Metro Chamber expressing strong support for the ordinance. He highlighted a recent report indicating that tax avoidance is a significant factor driving population loss in Multnomah County, with many residents relocating to neighboring areas for lower taxes. Clark emphasized that aligning the proposed tax amendment with inflation indexing, as recommended by Metro's COO, would help retain residents and maintain the region's competitiveness.

The meeting concluded with officials ready to address any further questions regarding the ordinance and its implications for local businesses and community programs.

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Scribe from Workplace AI
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