A real estate developer in Southern Oregon is looking to take the property tax away from Oregonians who have the opportunity to live in their homes for up to 10 years and to get them paid for it.
“This is not about being taxed,” said Chris Jones, executive director of the Real Estate Development Association of Southern Oregon.
“We want to be able to get the tax off of our property and give back to our community.”
The association has submitted the legislation to the Oregon legislature and hopes to have it in place by mid-October.
The association’s chief executive, Michael DeWitt, said he was concerned that real estate developers and the state of Oregon were not communicating on the subject of tax fairness.
“Real estate developers have a fiduciary duty to the state and the community to do this fair and equitable thing,” he said.
In the short term, Mr DeWitz said, the association will try to push the tax bill through the legislature, and could also file lawsuits against the state if the proposal goes forward. “
What I do not understand is why the realty community, the realtors and the developers who have been in this industry for decades, and who have never been forced to negotiate over a fair property taxation deal, would think that they are going to have any leverage to get this done.”
In the short term, Mr DeWitz said, the association will try to push the tax bill through the legislature, and could also file lawsuits against the state if the proposal goes forward.
The proposed legislation is a compromise between Oregon’s two biggest real estate lobbies: the Oregon Real Estate Association (ORANA) and the Oregon Association of Realtors (ORAR).
Both groups have expressed support for the tax.
Mr De Witz said that while Oregonians could see an increase in property tax bills, it was unlikely to be enough to make real estate development profitable for them.
“If we really want to encourage more people to live there, we need to make sure that our incentives are there for people to move in and that they can earn money to do so,” he explained.
“Our realtor lobby wants to have a better relationship with the state.”
But, he added, the legislation does not go far enough.
“The real estate industry is still in its infancy, and it’s a slow process,” he told ABC News.
The Real Estate Investment Trust (REIT) group also opposes the tax, saying that it does not solve the underlying problem. “
It’s important for us to be upfront about how we can make our incentives more equitable and work to make Oregon a more attractive place to live and work.”
The Real Estate Investment Trust (REIT) group also opposes the tax, saying that it does not solve the underlying problem.
“In a way, it’s like a tax for the rich and it doesn’t help anyone,” said REIT President Tom Stoddard.
“That’s why we’ve called it the estate tax.”
The state’s real estate lobby is also opposed to the tax because it does little to help homeowners, said Mr Stoddards deputy chief of staff, David Smith.
“When you look at the state’s tax structure, we see that the real estates lobby does not really have a role in this,” he argued.
“So what they’re trying to do is put a cap on the amount of taxes they’re going to be charged.
But we don’t think that’s a fair way to do it.”
The bill is a small step in the right direction, but not enough to convince real estate experts that the tax is a worthwhile option.
“A tax is one of those tools you use when you want to get something done,” said Mr Jones.
It’s going to hurt the real owner community.””
Some people are happy to pay the taxes, but that’s not going to help the realtor community.
It’s going to hurt the real owner community.”