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Oregon Authorizes Local-Level Construction Tax


Construction

New legislation allows the governing body of an Oregon city or county to impose a construction tax by adoption of an ordinance or resolution, effective June 2, 2016. A tax may be imposed on improvements to residential real property that result in a new residential structure or additional square footage in an existing residential structure, including remodeling that adds living space. An ordinance or resolution imposing this type of tax must state the rate of the tax. The tax may not exceed one percent of the permit valuation for residential construction permits issued. A tax also may be imposed on improvements to commercial and industrial real property, including the commercial and industrial portions of mixed-use property, that result in a new structure or additional square footage in an existing structure, including remodeling that adds living space. An ordinance enacting this type of tax must state the basis and rate of tax. (S.B. 1533, Laws 2016, effective June 2, 2016)

(05/10/2016)
(New)
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