Renewal of Special Assessment for Historic Properties is A “No-Go” this Legislative Session

At the June 7th House Revenue Committee work session, the committee chair, Representative Nancy Nathanson, decided not to move HB 2447 forward. This decision ends the bill moving in this 2021 legislative session. Special Assessment - Oregon's only state incentive to rehabilitate historic homes and commercial buildings - is set to expire in 2022. Rep Nathanson cited unanswered questions as to the impact of Special Assessment and whether it was the right tool to equitably incentivize preservation going forward. She appointed a legislative work group to research these questions and report back in November, with the intent of introducing a revised bill in the 2022 short legislative session.

While Restore Oregon supported the extension of Special Assessment, we have long stated that Oregon would be better served by other types of financial incentives such as a state historic tax credit, seismic tax credit, or expanded grant programs that better leverage the potential for restoration and reuse to create housing, avoid displacement and loss of cultural heritage, invigorate Main Streets, and curb emissions. Advocating for effective incentives is always a priority for Restore Oregon.