🚗 A tax for using Portland’s pothole-filled streets?

Portland’s Problem With the High Cost of Housing

The Oregonian is taking a deep dive into the problems caused by our expensive housing market. One issue: The median Multnomah County homeowner spends 44% of their income paying for their home — down from 55% in in 2022 — but still far above the 30% that financial experts recommend. [Oregonian]

• Another complication for homeowners, even ones who have benefited from the housing market: They might like to move, but their housing costs would rise if they sold. The typical Oregon homeowner has a mortgage rate of 4.1%, but a new mortgage would require paying about 6% in interest — that’s a major disincentive on selling and moving. [Oregonian]

Rounding to the Nearest Nickel

Goodbye to the penny — and exact change: The Oregon Legislature officially signed off on stores handing out change rounded to the closest nickel, since the U.S. Mint discontinued the penny last fall. [Oregon Capital Chronicle]

Street Funding for Use

City Council agrees Portland roads are in terrible condition, and is preparing a new proposal to raise money for repairs. One key idea they’re looking at is a transportation utility fee — charging businesses and residents a tax for using the streets — though in the past, similar concepts failed to win support at City Hall. The other ideas they're considering include charging delivery services (which obviously use the streets) and utility companies (when they damage the streets during their projects). A final proposal is expected within the month. [Oregonian]