ALBANY, Ore. – Albany is taking steps to address housing needs with a new Housing Construction Excise Tax (CET) set to take effect today.
This one-time fee, effective as of Jan. 1, will apply to new developments and aims to generate revenue for affordable housing. The Albany City Council passed the CET on Aug. 13, 2025. The tax will be phased in over three years and will impact projects valued over $50,000. Residential improvements will see a starting rate of 0.25 percent, increasing to 0.5 percent in 2027, and 0.75 percent in 2028.
For commercial and industrial projects, the rate begins at 0.33 percent, rising to 0.66 percent in 2027, and reaching 1.0 percent in 2028. According to the city, a $150,000 residential improvement will incur a CET fee of $250…