Portland work session: assessor warns downtown value drops are shrinking taxable base and increasing "compression"
Portland City Councilors met Oct. 16 to review property-tax mechanics after Multnomah County Assessor Michael Vaughn and city finance staff said falling downtown commercial market values have reduced taxable value and increased constitutional "compression," a factor already shrinking property-tax revenue available for the city’s general fund.
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Portland City Councilors met in a work session Oct. 16 to review the city’s revenue picture and to hear Multnomah County Assessor Michael Vaughn explain how recent declines in downtown commercial market values are reducing the taxable base available to the city.
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