Portland Construction Excise Tax Proposed to Fund Affordable Housing
A construction excise tax (CET) of 1 percent of permit valuation was proposed by Commissioner Dan Saltzman to fund affordable housing.A construction excise tax (CET) of 1 percent of permit valuation was proposed by Commissioner Dan Saltzman to fund affordable housing. The proposed tax would be levied on new residential and commercial construction, including industrial development. The Alliance supports the need for more affordable housing but urged that the CET proposal be slowed down in order to provide more information about the potential impacts, how the funds will be used, the cumulative impact of proposed new fees and regulations, and to better understand how it fits with the other affordable housing tools being proposed. At a minimum, the Alliance urged that if the CET moves forward separately it should include a cost cap and ensure current projects are not impacted. Read the Alliance’s full letter.