Portland leaders freak out as downtown property values plummet 50 more than 50%

Plummeting property values in downtown Portland are costing the city millions of dollars in tax revenue that would otherwise go to vital city services, as the city looks at a $92.8-million budget shortfall in the upcoming fiscal year.

The turndown in revenue is putting pressure on city leaders to re-imagine a downtown once filled with workers.

Perhaps no one is feeling the pinch like downtown restaurants and small businesses.