Building the Future by Brad Bennington In 1965, a group of local builders got together and talked about the future of housing for Southern Oregon. At the time, Oregon didn’t have a statewide building code, (and wouldn’t until July 1974) let alone a planning code. Just about anyone could build just about anything, just about […]
AFFORDABLE HOUSING CONSTRUCTION EXCISE TAX EFFECTIVE AUGUST 1, 2018
Purpose: To establish a construction excise tax of one-third of one percent on the value of residential, commercial, and industrial improvements to provide funding for affordable housing in the City of Medford. (Medford Municipal Code 9.280 – 9.295) Exemptions include such uses as private school improvements; public or private hospital improvements; and some not-for profit corporations: long term care facilities, residential care facilities, and continuing care retirement communities. A full list of exemptions can be found in Medford Municipal Code 9.284. Sample tax impact on the cost of a permit: - Median valued single family home: value of improvement $272,000 x .0033 = $900 - Commercial development: value of improvement $10,000,000 x .0033 = $33,000 * not to exceed $50,000 per building permit or $50,000 per structure, whichever is less.