Multnomah County’s Proposed Capital Gains Tax: Evaluating the Benefits and Drawbacks
In the upcoming May 16th ballot, Multnomah County voters will have a chance to vote on a tax measure that aims to provide legal and financial aid to tenants facing eviction. The measure, if passed, would impose a 0.75% tax on all capital gains earned by county residents, with an estimated annual revenue of $12 million to $15 million, to be used for tenant relief. However, Portland-based accounting firm Perkins & Co has prepared a report outlining their opposition to the measure, citing potential risks and shortcomings.
Despite these concerns, supporters of the measure argue that the tax is necessary to address the urgent issue of eviction in Multnomah County. They argue that the tax would provide much-needed legal and financial aid to tenants facing eviction and that it would help to mitigate the negative effects of the housing crisis in the area. For more information, Lars speaks with Nigel Jaquiss, a Pulitzer Prize-winning reporter for Willamette Week.