If development paid its fair share, your property tax bill would be 10% lower
Urban Renewal is all about re-development. The individual categories that we choose to list, such as historic, core area multi-unit etc, are all development of one kind or another. We can reasonably argue about the value of this development, but we should also look at what it costs us:

We tally $80 million in taxes diverted to UR plus taxes abated (ie: forgiven) . The TSCC reports the total Multnomah County property tax collected for 2001-02 as $797,880,970 (paper page 27 ). Adding past years taxes totals $822,930,739 ( per email from TSCC).

Had the $80 million not been diverted and abated , it would have been available to contribute to the total, allowing the rest of us to pay $743 million instead of $823 million ($823 million - $80 million = $743 million. $80 million is about 10% of $823 million)

In terms of a home owner's bill (all data approximate):
If your assessed value is

If your tax
was about

If development paid its fair
share, you would have paid

In effect, you paid this much
to give development a free ride

Total County--->

$823 million

$743 million

$80 million

$68,200

$1500

$1353

$145

$91,000

$2000

$1804

$195

$113,600

$2500

$2255

$245

$136,400

$3000

$2706

$293

$159,000

$3500

$3157

$342

$181,800

$4000

$3608

$391

$204,500

$4500

$4059

$440

$227,200

$5000

$4511

$489

$272,700

$6000

$5413

$587

$318,200

$7000

$6315

$684