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Friday, February 1, 2008

PDC tax abatement train wreck

Looks like the Portland Development Commission's tax abatement programs are not well run. All kinds of monkey business is going on.

Comments (4)

What else would you expect. Who cares about the failures of the past, it is all about moving forward.

Couple of thoughts -
1. County needs to go after the property owners for the taxes incurred which are still due under the 5 year recapture period, and distribute the taxes collected to the underlying urisdictions.

2. Each local jurisdiction (e.g. County itself, PPS, David Douglas, etc, ) needs to immediatly sue the CoP for any taxes, outside the recapture period, which the property owner avoided paying.

About 10 - 15 years ago, something similar happened in Clackamas County, and ClackCo got sued by just about every school district and city / town within Clak.Co.

This is really crucial for the county. While the city of Portland has been getting fat with several sources of revenue, property taxes make up the bulk of Multnomah County's revenue. So when the PDC or some other agency grants tax abatements, it sucks money out of the county and services have to be cut.

Jack: Just in time for Super Bowl weekend, you've just revealed a great "Reader Poll" opportunity.

You could have us vote on which of today's stories make a better mockery of Portland's reputation as a "city that works" -- either 'PDC tax abatement train wreck', or, 'How to borrow $277 million from B of A, very quietly'.

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