Genentech property tax change affects Hillsboro

| Print |  Email
Must Reads
Friday, February 22, 2013

Genentech successfully appealed its property taxes at its Hillsboro facility, which means the city's general fund will take a hit.

The decision between the company and the Oregon Department of Revenue last August resulted in a $162.6 million reduction in assessed value, according to Hillsboro Finance Director Suzanne Linneen.

"This is why we have reserves," Linneen said. "This is exactly why, so we don't overreact and we don't do anything in haste."

The city tries to keep 15 percent of its budget in reserves, but that's unlikely this coming year. Hillsboro has roughly $10.2 million set aside, according to a budget snapshot, which is about 11 percent.

Read more at OregonLive.com.

{biztweet}genentech hillsboro{/biztweet}

 

More Articles

Short Shrift:The threat of just-in-time scheduling

May 2015
Monday, April 27, 2015
BY AMY MILSHTEIN

Companies can benefit when they use software to meet staffing requirements and address employees' family and life commitments.


Read more...

6 things to know about the Amtrak Cascades route

The Latest
Friday, May 22, 2015
thumb3BY JACOB PALMER | DIGITAL NEWS EDITOR

The recent tragedy in Philadelphia has called attention to Amtrak and the nation's woefully underfunded rail service. Here are six facts about the Amtrak Cascades corridor between Eugene and Vancouver B.C. 


Read more...

Hall of Flame

June 2015
Friday, May 22, 2015
BY JACOB PALMER

A Power Lunch at Oswego Grill.


Read more...

Up in the Air

June 2015
Friday, May 22, 2015
BY ANNIE ELLISON

Portland tech veteran Ben Berry is leaving his post as Portland’s chief technology officer for a full-time role producing unmanned aerial vehicles (UAVs) aimed at first responders and the military. Berry’s AirShip Technologies Group is poised to be on the ground floor of an industry that will supply drones to as many as 100,000 police, fire and emergency agencies nationwide. He reveals the plan for takeoff.


Read more...

European Vacation

Guest Blog
Thursday, April 23, 2015
norristhumbBY JASON NORRIS | GUEST BLOGGER

There are winners and losers with a strengthening U.S. dollar.


Read more...

Photo Diary: Forest Grove Farmers Market

The Latest
Thursday, May 14, 2015
IMG 8469BY JASON E. KAPLAN | STAFF PHOTOGRAPHER

There are more than 160 farmers markets in Oregon, contributing an estimated $50 million in sales, according to the Oregon Farmers Markets Association. We checked in on the Forest Grove market, which for several years has brought local produce and food vendors to Main Street in the center of town.


Read more...

An uncertain future

Guest Blog
Thursday, May 21, 2015
norristhumbBY JASON NORRIS | GUEST BLOGGER

Uncertainty is a part of doing business, whether in through the lens of investment opportunities and risks or the business of running an enterprise.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS