Draft TY 2018 tax forms have been posted. Additional changes expected in mid-October.

2D Barcode specifications (version 20) have been updated to align with the TY 2018 draft tax forms.

New schedule:

For tax years beginning on or after January 1, 2018, PCC 7.02.890 requires all owners of residential rental property in the City to register the property and annually provide a schedule that includes the address of all owned residential rental units within the City. As a result, there is a new schedule titled Schedule R.

Key changes to existing Forms:

• Owners Compensation Allowance Deduction for Portland Business License Tax has increased from $103,500 per owner to $125,000 per owner. The Multnomah County Compensation Allowance Deduction will be at the tax year 2017 amount ($103,500) plus a CPI adjustment.
• Portland Business Tax rate increased from 2.2% to 2.6%
• Owners of residential rental properties in Portland now required to attach Schedule R.