New Measure Would Reduce Taxes For Homeowners In Oregon

Reduce Taxes For Homeowners: Homeowners may be eligible for a tax break. To address the issue of limited access to affordable housing, Property Share Oregon is advocating for the passage of the “Home Share for Oregon Act,” which would provide a tax credit for homeowners willing to share their homes.

According to the charity, one in three homeowners are underwater on their mortgages, and for those 65 and up, that number rises to 40%.

New Measure Would Reduce Taxes For Homeowners In Oregon

Tess Fields, executive director of Home Share Oregon, explains that with this “small tweak in statute,” homeowners can help others gain access to affordable housing while strengthening their own financial stability.

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Currently, there are 1.5 million homeowners who have spare bedrooms. Without investing in expensive new facilities, Home Share Oregon could shelter 2% of the state’s population, providing homes for an additional 30,000 individuals.

This is a humanitarian catastrophe in Portland. Homeowner James Dirksen argues the lack of affordable housing is due to supply and demand.

New Measure Would Reduce Taxes For Homeowners In Oregon
New Measure Would Reduce Taxes For Homeowners In Oregon

For the past twenty years, Dirksen has opened his home to a rotating cast of twenty or so roommates. He claims to have made lifelong pals with some of the folks he’s met. He is currently renting to two individuals, and his monthly rent ranges from $500 to $800.

As the speaker put it, “It’s a fantastic incentive. It encourages people to consider home sharing as an alternative without the added financial stress of paying that tax, as Dirksen puts it. “We had a couple have their first child here, so it’s not always long-established families.”

Signing up for the service and being matched with someone is easy.

Matching is handled automatically. So, you can advertise your available resources and describe the qualities you seek in employees, and those individuals can then detail the attributes they feel are most important to them. Everyone should consider the possibility of renting out a portion of their home, even if it isn’t the best fit for them.

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You need to be at ease with having strangers in your home, as Dirksen puts it. I wouldn’t recommend doing it if you have three or four young children and a busy schedule. But there are plenty of seniors for whom this is an ideal solution.

If the measure is passed this year, the goal of Home Share Oregon is to home 3,000 individuals by the year 2023.

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