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Sunday, October 21, 2012

Portland cop pension property tax jumps 8.74%

Our property tax statement for 2012-2013 is on the table, and here's what it shows:

The Portland police and fire retirement hit went up by nearly 9%, more than offsetting a decline last year. The Tri-Met property tax bonds have been paid off, apparently, but they've been more than replaced by massive hits for Metro and Portland Community College. "Urban renewal" is still sucking up 26 cents of the Portland city property tax dollar, and the cop and fire pensions another quarter. "Urban renewal" taxes show a compound increase rate of 4.27% over the past three years; for what, it's hard to say.

Overall, our property taxes went up 3.92% this year compared to last -- pretty much in line with the 3.99% compound rate of increase over the last three years. One can only imagine how much worse it would be had it not been for the late Don McIntire.

We'll run some additional analysis and post some more numbers over the coming week.

Comments (6)

Portland Police Bureau: $167 million budget this year.

Fire and Police Disability and Retirement Fund: $155 million budget this year.

How soon will the latter overtake the former?

Is it time for another property tax limitation initiative?


Dont forget the URD, all this money could've been going to schools instead of Homer and Gerding-Edlen.

Dont expect any change for the better with Charlie as mayor.

Of course, at the state level we'll take another extra $1B+ out of a 15B gen funds budget for PERS contributions.

Why do I get the feeling in OR that schools are the bottom priority?


And the cop union is in love with Viper Nolan.

And the cop union was in love with Nutsy Smith.

Should give the average property owning schlemeil voter a hint of what to do in the Mayoral and City Council races:

Amanda Fritz for City Council.

LaVonne Griffin-Valade for Mayor.

Oh yeah, note tat the local property tax increased at a rate almost double the rate increase for Social security COL:A.

Makes the whole idea of being retired on a fixed income in Portland, stuck with a house that won't sell, just so extra special.

I emailed Randy Leonard awhile back & suggested moving ALL cops/fireman into PERs, past & future. He replied back that it would bankrupt the system. That's where we are currently heading anyway. hmmm...

Stockton, SanBernadino here we come...

I also asked him why "disabled" cop CW Jensen, whose drawing disability pay, was working for a local news station..that's laffable...

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