Property owners will receive their annual tax statement in November, raising a frequently asked question: why does an urban renewal line appear on that statement?
Urban renewal is a state-sanctioned program designed to help communities improve and redevelop areas that are physically deteriorated, unsafe, or poorly planned. Prosper Portland uses urban renewal as a tool to help specific areas of the city realize capital projects—parks, streetscape improvements, community centers, and the like—that would not happen on their own.
The Urban Renewal line item shown on tax statements received by property owners within the City of Portland represents the amount collected for urban renewal activities. It is not a new tax. For more information on your property tax bill, contact the Multnomah County Property Tax Assessment and Taxation office at 503-988-3326.
