Property taxes going up to bail out tax breaks for rich

By Taxpayers Association of Oregon

Did you notice last week that Oregon Governor Kate Brown pledged to create brand new tax breaks to lure big tech firms to Oregon. This are NEW TAX BREAKS on top of the existing tax breaks, on top of the $200 million big tech package passed in Oregon this year and the $280 billion in free handouts to tech companies through Biden’s CHIPS Act passed by Congress.

Who is going to pay for this?

Property owners will pay for this.

Property taxes have gone up this year already.  Politicians pushed through 20+ property taxes during the May Primary.  yet, there is another near half-billion in property taxes on the local ballot this General Election.

At the state level, just this month, lawmakers on a task force approved cutting the Mortgage Interest Deduction.   A few months before that, the Secretary of State issued a political hit-job report calling to gut the Mortgage Interest Deduction.   The Secretary of State called giving property owners such tax relief one of the most “wasteful” things she has ever seen.  All signs point to a property tax increase in 2023.

There are other tax breaks lavished on the rich that politicians pass that we taxpayers end up paying the bill. It cost Oregon taxpayers $55 million for tax rebates to Electric Vehicle owners (The average electric vehicle cost $66,000).  Gov. Brown, Senate President Courtney and House Speaker Kotek voted for a tax break (SB 727) that bails out Oregon’s top millionaires by creating a special (very narrow) tax credit they can use to deduct state and local taxes (SALT) on their federal tax forms.

Taxpayers need to pay attention to the unrestrained rise of micro-targeted tax breaks and give-a-ways for the rich as the middle and lower class pay for it.

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