Posted
For Immediate Release: Friday, July 18, 2014
Hillsboro and Washington County Propose Additional Gain Share Funds for Washington County School Districts
Washington County Commission Chair Andy Duyck and Hillsboro Mayor Jerry Willey announced today that Gain Share revenues for the current fiscal year have exceeded expectations. As a result, Chair Duyck and Mayor Willey have proposed sharing a total of $8 million with Washington County school districts, $3 million more than previously announced for 2014-15.
This additional amount would bring the total Gain Share funding to be distributed from local agencies for Washington County schools to $13 million over a two-year period.
"We are committed to continuing our partnership with local schools by supporting our school districts," said Hillsboro Mayor Jerry Willey. "And we want to let our local schools know about the additional funding now so that they can begin planning how to use these dollars in the coming school year."
"Gain Share allows local governments that have abated property taxes – like Washington County, Hillsboro and our partner agencies – to channel some of the state income tax dollars that we generate back into the local community," said Washington County Board Chair Andy Duyck. "We are proud to distribute even more of these Gain Share funds to Washington County schools this year as a result of this successful state-local partnership."
The proposal for $8 million in additional Gain Share funding for Washington County schools would increase the commitment made last year when taxing districts in Washington County involved in local property tax abatement agreements granted $5 million annually in Gain Share funds over two years to the Washington County school districts. The proposal would also continue the practice of distributing these funds to each of the seven public school districts on a per-student basis using the State's Average Daily Membership-Weighted (ADMw) formula.
See how school districts in Washington County benefit from the additional Gain Share dollars.
Official approval of the proposal is anticipated after consideration by each taxing district party to property tax abatement agreements in Washington County. In addition to Washington County and the City of Hillsboro, these agencies include Metro, the Port of Portland and Tualatin Valley Fire and Rescue.
Gain Share is a state-local partnership created by the 2007 Oregon Legislature to restore fairness between the State of Oregon and local governments involved in Strategic Investment Program (SIP) agreements. SIP agreements allow local governments and key businesses to negotiate alternative taxing arrangements when businesses are willing to invest at least $100 million in an urban area or at least $25 million at a rural location in Oregon. As a partial trade-off for limiting local property taxes, Gain Share provides local governments a portion of the personal income tax revenue generated by the retention and creation of SIP-related jobs.
More information about SIP and Gain Share is available here.
Contacts:
Philip Bransford, Communications Officer, Washington County Administrative Office, 503-846-8685, [email protected]
Patrick Preston, Public Affairs Manager, City of Hillsboro, 503-681-6218, [email protected]