Seven percent is the new allowabale rent increase the city of Portland announced today. This figure is per the Consumer Price Index (CPI). Portland’s Rent Control ordinance requires that on September 1 of each year, the Housing Safety Office is to determine the Allowable Increase Percentage and the Tax Rate Rent Adjustment for the following calendar year – in this case 2023.
Tax Rate Rent Adjustments are available of the city changes the mil rate as compared to the previous year and the property owner’s taxes increase. The mil rate for the city has changed for this year. Therefore, landlords are eligible to take the Tax Rate Rent Adjustments for 2023 if their taxes increased. The mil rate for fiscal year 2023 is $13.61.
Additionally, landlords and property managers should be aware that the city’s annual rental registration process is soon upon us. Long-term and Short-term Rental Renewals for 2023 are expected to be mailed out the first week of November. The city is urging landlords and property owners to renew their registrations on-line via the Citizen Self Service portal (CSS).
The Permitting & Inspecdtions Department is creating a Frequently Asked Questions document to help guide landlords and property owners through the registation and supplemental form process. That information will be available in October on the Rental Registation page.