As taxpaying residents fled Portland, Oregon to escape rising crime, drugs, and a growing homeless problem, Portland’s county lost $1 billion in revenue between 2020 and 2021, an analysis of Internal Revenue Service (IRS) data reveals.
The taxpayers who left Multnomah County, in which Portland is located, were mostly high-income earners, driving down average earnings and resulting in a record $1 billion of lost revenue, analysis conducted by OregonLive.com found.
Loss of personal income tax revenue is extremely harmful to Oregon’s financial situation. Without a state sales tax, Oregon counts on personal income tax revenue to provide for 86% of the state’s General Fund.
Multnomah County has reportedly suffered the largest loss of population of any Oregon county, according to Census data. Portland alone shed about three percent of the its population from 2020 to 2022, the sixth largest decline among the 50 largest U.S. cities.
https://mrctv.org/blog/portland-area-loses-1-billion-wealthy-taxpayers-flee-crime-drugs-and-surging-homeless
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