u/outlawbernard_yum

PDX economists point to the drop in home prices at the fringes of Mult Co as signs that the PFA and Houseless tax will be unfunded as the cliff evolves. Buyers with even the modest income to purchase slightly higher priced homes will avoid doing so in these areas, saving around $20k per year by purchasing a few blocks away in neighboring counties. These homes will drop in value about $1-200,000. The new buyers, who are not in the income brackets taxed, will not pay these taxes. This is downward pressure in a hyperlocal market which amounts to unintended consequences of poor tax policy compounded by the lack of benefit shown to date for these tax revenues. These 2 extra taxes account for 1/3rd of the total taxes paid by these tax cliff home owners. To make up this revenue, PFA and Houseless taxes will then need to target lower incomes in much larger numbers, potentially approaching a move from 8% of residents to over one third. This short-sightedness will also impact public schools as families leave because most of these homes are those that support families who previously chose to live in the city. Urban sprawl and hollowing out of services for all are the common follow on. This is a consequence of poorly thought out fiscal policy by leadership without the education, skills and understading to do the duties needed in their roles. Will you continue this doom loop in your voting too?

PDX economists point to the drop in home prices at the fringes of Mult Co as signs that the PFA and Houseless tax will be unfunded as the cliff evolves. Buyers with even the modest income to purchase slightly higher priced homes will avoid doing so in these areas, saving around $20k per year by purchasing a few blocks away in neighboring counties. These homes will drop in value about $1-200,000. The new buyers, who are not in the income brackets taxed, will not pay these taxes. This is downward pressure in a hyperlocal market which amounts to unintended consequences of poor tax policy compounded by the lack of benefit shown to date for these tax revenues. These 2 extra taxes account for 1/3rd of the total taxes paid by these tax cliff home owners. To make up this revenue, PFA and Houseless taxes will then need to target lower incomes in much larger numbers, potentially approaching a move from 8% of residents to over one third. This short-sightedness will also impact public schools as families leave because most of these homes are those that support families who previously chose to live in the city. Urban sprawl and hollowing out of services for all are the common follow on. This is a consequence of poorly thought out fiscal policy by leadership without the education, skills and understading to do the duties needed in their roles. Will you continue this doom loop in your voting too?