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Senate hears briefing on extension of workforce multiunit rental exemption (SB 118)
Summary
Senate Bill 118 would extend the exemption for newly constructed or rehabilitated multiunit rental workforce housing from Jan. 1, 2027, to Jan. 1, 2033. Staff described eligibility (up to 120% AMI), two alternative local schedules and limited current use; Tax Fairness Oregon supported extension.
Senate Bill 118, which would extend the property-tax exemption for newly constructed or rehabilitated multiunit rental housing aimed at workforce households, was presented to the Senate Committee on Finance and Revenue during a Feb. 5, 2025 hearing.
LRO analyst Bo Olin said the exemption’s policy purpose (as reflected in committee materials) is to increase the supply of workforce rental housing. The program sets household income…
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