Sign of times: “Portland White House” for sale ($3M)

By Taxpayers Association of Oregon

Mansions Global is announcing that the super-luxury Portland mansion named “Portland’s White House” is on the market for sale.

The price $3 million.

It may be a sign that high income earners and business owners are leaving.

KOIN-TV notes, “…there’s evidence through IRS capital gains data that some high and middle-income newcomers are choosing to settle north of the Columbia River … Oregon Business & Industry, compared top income tax rates for cities and states. According to their data, Portland’s income tax rate of 14.7% for high earners is second only to New York City. The report points out that an individual hits that high earner mark in Portland at $125,000, while a New York taxpayer would have to make $25 million.“Multnomah County has the highest marginal tax rates in the United States of America, but we don’t have the income to support that level of taxation,” said Portland Mayor Ted Wheeler.Wheeler says it’s going to be difficult to bring downtown back if people with disposable income are chased off.”

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