News

ARTICLE
Date ArticleType
4/23/2024 Member News

HBA Helps Thwart CET Tax Proposal in Lake Oswego


On April 1st, HBA submitted our testimony that opposed a proposal that would have established a new Construction Excise Tax (CET) in Lake Oswego. Read the testimony here. While it was being developed by a citizen-led stakeholder group, the city’s Housing Production Strategy outlined several tools to increase housing supply. The list assembled and recommended by this group contains several meaningful strategies that merit serious consideration by Council. These include pre-approved plan sets, Tax Increment Financing, unzoning land, code audits, and reduced parking minimums. However, one tool being debated by the committee the levying of a new CET on residential construction to fund affordable housing. While we supported the city’s desire to see new investments in affordable housing, we strongly objected to the consideration of a CET tax, which is already levied on all new housing by Metro. We were pleased to see that quickly after HBA’s testimony, Council and Planning Commission unanimously rejected including a CET plan in any production strategies.