Taxes For Oregon Homeowners: Homeowners may qualify for a tax credit. 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 grant tax credits to 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 change in the law,” homeowners can help others gain access to affordable housing while bolstering their own financial security.
There are currently 1.5 million homeowners with spare bedrooms. Without investing in costly new facilities, Home Share Oregon could house an additional 30,000 individuals, or 2% of the state’s population. Portland is experiencing a humanitarian catastrophe. James Dirksen, a homeowner, argues that the lack of affordable housing is the result of supply and demand.
Over the past two decades, Dirksen has shared his home with approximately twenty roommates. He claims to have formed lifelong friendships with some of the individuals he has met. Currently, he rents to two tenants, and his monthly rent ranges between $500 and $800.
According to the speaker, “It’s a fantastic incentive. As Dirksen puts it, it encourages people to consider home sharing as an alternative without the added financial burden of paying this tax. “A couple gave birth to their first child here, so it’s not always established families.” Signing up for the service and being matched with someone is easy.
The matching process is automated. Therefore, you can advertise your available resources and describe the qualities you seek in employees, and individuals can then describe the characteristics they consider most important. Even if it’s not ideal, everyone should consider the possibility of renting out a portion of their home.
If you’re an Oregon homeowner, there’s an opportunity to cut your taxes. https://t.co/1He9QToxR0
— FOX 12 Oregon (@fox12oregon) January 10, 2023
As Dirksen puts it, you need to be comfortable with having strangers in your home. If you have three or four young children and a busy schedule, I would not recommend it. However, there are numerous seniors for whom this solution is ideal. 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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