Legislators Urged to Keep MID (Mortgage Interest Deduction)
Oregon lawmakers are weighing potential changes to the state’s Mortgage Interest Deduction, a long-standing tax policy that allows homeowners to deduct interest paid on their home loans from their state taxable income. Under current law, the deduction is capped at $750,000 in combined mortgage debt and applies only to primary and second homes used for personal purposes. It does not apply to rental properties or third homes.
According to materials circulated by Oregon Realtors, proposals under discussion could include lowering the $750,000 cap, eliminating the deduction for second homes, or repealing the Mortgage Interest Deduction entirely. Supporters of the deduction argue it is Oregon’s only tax policy specifically aimed at supporting homeownership and helping offset mortgage costs, which are typically the largest housing expense. They warn that reducing or eliminating the deduction could increase annual tax burdens by an estimated $2,500 for a typical homeowner, or roughly $50,000 over the life of a 30-year mortgage, depending on the loan amount and interest rate.
The materials also raise concerns about unintended consequences, including giving a competitive advantage to cash buyers over mortgage holders, and making Oregon less attractive to residents who split time between homes for work, family, or retirement. Critics of the deduction, though not represented in the document, generally argue that tax expenditures should be evaluated for equity and budget impact, particularly during tight revenue cycles.
At issue for lawmakers is whether the Mortgage Interest Deduction remains an effective housing affordability tool — or whether changes are needed as part of broader tax reform discussions.
Wine, Chowder and Glass Float Trail
Happening this weekend, the Florence Area Chamber of Commerce hosts the annual Wine, Chowder and Glass Float Trail. The 3-day event has become a winter boost for the local economy, drawing visitors to sip regional wines, sample chowder creations, shop at participating businesses and search for hand-blown glass floats hidden throughout town. The popular festival was moved to February following the COVID-19 pandemic and has continued to grow each year, providing a seasonal windfall for Florence restaurants, retailers and lodging properties.
Rotary Auction
The Rotary Club of Florence Scholarship Auction returns Saturday, March 14, 2026, with this year’s theme, “Be a Hero! Change a Student’s Life!” The annual event raises scholarship funds for local students and supports the development of Florence’s future workforce and community leaders. Organizers say the evening will feature silent and live auctions, with guests encouraged to dress in superhero-themed costumes. Community members can donate auction items, purchase tickets or tables, or make a contribution if they’re unable to attend. For ticket information, contact John Moore. Auction donations can be arranged through Wes Dinoff, and additional details are available at theflorencerotary.org.
