From a recent email from the Oregon Association of REALTORS® to their members
Call For Action: Stop HB 2830!
$540,000 reasons why you should respond to this Call for Action!
The fame of the 2017 legislative session has been about taxation. Setting all other issues aside, the “$1.6 billion hole” has impacted nearly every policy conversation: is it needed, how much does it cost? In general, it’s been a great opportunity for those at the Capitol whose focus is on raising taxes.
This session started on the heels of Measure 97, the failed 2016 ballot measure that would have raised $6 billion in new taxes. As a result, the tax proposals introduced this session have mostly been some variation of “Son-of-Measure 97”, often referred to as Value Added Tax (V.A.T.) tax (read gross recipes tax).
Most disturbing of all, through communications with various broker-owners, it has come to our attention that the tax package outlined in HB 2830 would have a devastating $540,000.00 impact on just one of our larger brokerages in Oregon.
How do you calculate your tax under HB 2830? Take your gross sales (not profit after taxes) and multiply that number by .75. This tax is on top of income taxes, property taxes and any other local tax you might be paying (especially in Portland and Multnomah Co.).
PLEASE take the time to email your legislator. Let them know how you feel. Tell them we shouldn’t be raising taxes on the back of small businesses. Tell them to vote “NO” on HB 2830!
