Most City offices closed Wednesday, June 19, to observe Juneteenth

The City of Portland recognizes Juneteenth as a formal day of remembrance to honor Black American history and the end of slavery in the United States. Learn about Juneteenth.

Personal Income Tax Interest Rates on Tax Due and Refunds

Tax Administration Policy for Multnomah County Preschool for All (PFA) and Metro Supportive Housing Services (SHS) Personal Income Taxes related to the interest rate for tax due and refunds of the personal income taxes.

Tax Administration Policy - Personal Income Tax Interest Rates on Tax Due and Refunds

Multnomah County’s (Multnomah) Preschool for All and Metro’s Supportive Housing Services personal income tax codes set an annual interest rate of 10% (or monthly interest rate of 0.833%) on tax due and on refunds. Their codes also allow the administrator to adopt the interest rate used by the Oregon Department of Revenue by written policy. The interest rate may only be changed once each calendar year.

The Oregon Department of Revenue (DOR) reviews and determines its interest rate once each year effective on January 1 of each year. The Revenue Division will review DOR’s interest rate each year when that determination is made. If the difference between the Revenue Division’s interest rate and DOR’s interest rate for a year is more than or less than DOR’s interest rate by more than one percentage point, the Revenue Division will match DOR’s interest rate and be effective on April 15 of that same year.

The interest rate applicable for each calendar year is as follows:

Personal Income Tax Interest Rates
PeriodMonthly Interest RateAnnual Interest Rate
1/1/2021 - 4/17/20230.83310.0
4/18/2023 - 4/15/20240.56.0
4/16/2024 - Current0.6678.0

02/20/2024                                          ______Tyler Wallace_________
Date                                                      Revenue Division Director

Adopted: 04/06/2023
Amended: 02/20/2024