Q: What would be the tax benefits for Oregonians who are interested in living in Vancouver, Washington? A: There are many tax benefits, but the most current topics are Measures 66 and 67. The recession caused a shortfall…
Q: What would be the tax benefits for Oregonians who are interested in living in Vancouver, Washington?
A: There are many tax benefits, but the most current topics Measures 66 and 67. The recession caused a shortfall in the Oregon budget and these two Oregon ballot measures are an attempt to balance the state budget by raising taxes on individuals and households. Some Oregon citizens feel that these actions hurt more than they help and have looked for ways out – such as moving across the river.
Here is an excerpt from a great article on Reasons for Oregonians to Move Across the River.
“Vancouver, Washington is the biggest destination for Oregonians leaving to save on taxes because it is part of the same metropolitan area as the largest city in Oregon, Portland. Vancouver is an up and coming place that in spite of the sales tax is going to save you more money than you realize the longer you live there the benefits compound. The first thing saved is your annual income tax of 10% or more owed to the state of Oregon. Measures 66 and 67 can hike your personal taxes up to 22% with certain capital gains transactions. More than ever moving across the river will benefit you and your business.”