portland has special problems. The state constitution prevents property taxes from going up in proportion to the value of the property as long as you don't do a

portland has special problems. The state constitution prevents property taxes from going up in proportion to the value of the property as long as you don't do any renovations on it. This means that the only economical reason to develop land is because you intend to charge a lot more for renting it, since any construction will cause your property taxes to spike.