The Mayor’s fiscal year 2018-2019 Proposed Budget was released on April 30, 2018. It proposes to amend the Portland Business License Law (Portland City Code Chapter 7.02) by increasing the Owner’s Compensation Deduction to $125,000 per owner (from the current $103,500) and increasing the tax rate to 2.6% (from the current 2.2%). Calculate how the proposed law changes would impact your City taxes.