The Portland City Council has approved increasing the tax threshold for small businesses.
To qualify for the city's business tax, small businesses will need to make over $75,000 in profits this year and $100,000 next year.
By 2027, and average business will save 286 dollars.
"I'm thankful to Council for recognizing what small business owners have been telling us," Mayor Keith Wilson said. "This change gives them the support they need to keep investing in their ideas, their employees, and their communities."
"I'm very proud we were able to pass this with the support of every Councilor present today," Councilor Eric Zimmerman said. "This is a step forward, showing the businesses that are open today that we support them, while creating incentives for new businesses to open tomorrow."
The measure was developed in partnership with the City's Revenue Division and approved by the Council's Finance Committee before advancing to Council for adoption. The updated exemption will apply when businesses file taxes for the 2026 tax year.