How Portland’s red-hot building boom is helping schools

An uptick in property taxes provide schools with more funding options.

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An uptick in property taxes from Portland’s building boom is expected to provide schools with more funding options.

Portland Public Schools are expected to collect 7.9% more in the 2015-16 timeframe.

Due to past voter-approved property tax limitation measures, most peoples’ property taxes can’t rise more than 3 percent a year, plus whatever bond measures voters approved. The fact that total taxes are rising so much beyond 3 percent in Portland is a sign of how many new apartments, offices and other new property has been built and placed on the property tax rolls.

By comparison, Gresham’s total property taxes will rise 3.1 percent, a sign that new construction has been minimal.

(SOURCE: Portland Tribune)

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