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 The Oregon Legislature repealed a 17-year-old ban on inclusionary housing rules earlier this year, opening the door for Portland’s tax.
Portland will start collecting the tax August 1, with proceeds earmarked for the city’s Inclusionary Housing Fund and the Oregon Department of Housing and Community Services. Certain projects, those costing less than $100,000, qualified affordable housing developments, some owner-occupied residential projects, public works, private schools, religious buildings, agricultural buildings, nonprofit care facilities, and accessory dwellings, are exempt.
Portland currently has a hot housing market, with low availability of homes for sale. The excise tax collected is meant to help build housing projects targeting those who earn 80% or less of the city’s median family income.
Related Stories
Multifamily Housing | Jan 13, 2022
Astra Tower will be Salt Lake City’s tallest high-rise
HKS designed the project.
3D Printing | Jan 12, 2022
Using 3D-printed molds to create unitized window forms
COOKFOX designer Pam Campbell and Gate Precast's Mo Wright discuss the use of 3D-printed molds from Oak Ridge National Lab to create unitized window panels for One South First, a residential-commercial high-rise in Brooklyn, N.Y.
Multifamily Housing | Jan 12, 2022
Nabr, co-founded by Bjarke Ingels, looks to reimagine the future of urban living
The company’s first development is slated to break ground in summer 2022.
Multifamily Housing | Jan 12, 2022
Construction begins on downtown Phoenix’s PALMtower
The multifamily tower will rise 28-stories.
ProConnect Events | Jan 8, 2022
ProConnect Events 2022: Multifamily, Sustainability, Education, and Single Family – watch the video to learn how to participate!
At ProConnect events, building product manufacturers meet with AEC professionals and real estate developers to discuss upcoming building projects, new products, and technical solutions.
Senior Living Design | Jan 5, 2022
Top Senior Living Facility Design and Construction Firms
Perkins Eastman, Kimley-Horn, WSP USA, Whiting-Turner Contracting Co., and Ryan Companies US top BD+C's rankings of the nation's largest senior living sector architecture, engineering, and construction firms, as reported in the 2021 Giants 400 Report.
Multifamily Housing | Dec 22, 2021
This will be Fort Lauderdale’s Tallest Building
ODA is designing the project.
Multifamily Housing | Nov 29, 2021
Arthaus residential units and community art gallery debut in Allston, Mass.
PCA-designed residential community includes 74 apartments, 9 condos by The Mount Vernon Company.
Sponsored | Multifamily Housing | Nov 24, 2021
MagicPak HVAC System: More Desirable Living, Dramatically Less Time
When tapped to create a modern 280-unit residence in downtown Philadelphia, modular builder Volumetric Building Companies used the MagicPak All-in-One™ HVAC system to optimize square footage, expand rooftop amenities, improve the exterior aesthetics and simplify ongoing maintenance – all with 60 percent less onsite HVAC install time than a traditional split system.
Giants 400 | Nov 18, 2021
2021 Multifamily Sector Giants: Top architecture, engineering, and construction firms in the U.S. multifamily building sector
Clark Group, Humphreys and Partners, and Kimley-Horn head BD+C's rankings of the nation's largest multifamily building sector architecture, engineering, and construction firms, as reported in the 2021 Giants 400 Report.
