City of Portland releases Allowable Increase Percentage and Tax Rate Rent Adjustment
In Accordance with Portland City Code, Chapter 6, Section 6-234(a), on September 1, the Housing Safety Office is tasked with establishing and publishing the Allowable Increase Percentage and the Tax Rate Rent Adjustment for the following calendar year:
Based on the most recent available data from the Bureau of Labor Standards, from July 1, 2020 to July 1, 2021, the CPI-U for the Greater Boston Metro Area advanced 4.3%. The Annual Increase Percentage for calendar year 2022 is 4.3%
Tax Rate Rent Adjustments are available if 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 or this year, so landlords are eligible to take the Tax Rate Rent Adjustment for 2022 if their taxes increased.
If you’re a renter having trouble paying your rent, utilities, or other housing costs – or if you’re a landlord trying to stay afloat with tenants in this situation – help may be available. State and local programs are distributing billions of dollars in rental assistance to help renters stay housed during the pandemic.
Visit the CFPB’s Rental Assistance Finder to find out what this means for you and what you can do. The CFPB’s site also includes resources to help renters and landlords understand other resources to help navigate various financial hardships related to the pandemic.
Funds
HUD funds are utilized to benefit low and moderate-income Portland residents and city neighborhoods where a majority of the residents earn low and moderate incomes. HCD supports a wide variety of projects and programs including social and neighborhood services, public facilities and infrastructure in eligible neighborhoods and housing rehabilitation and housing development. The Division works in partnership with residents, non-profit agencies and City departments to benefit low and moderate-income residents and improve the neighborhoods in which they live.
The 2020 Interim Housing Report has been provided by the Housing and Community Development Division, Housing and Economic Development Department for the City Council’s Housing Committee. This report is designed to provide an overview of housing activity, actions, and accomplishments the City has adopted to address the issues of housing availability and affordability as well as policies and initiatives related to housing safety, regulations, and inspections.
The goal of the CDBG program is to develop viable communities by promoting integrated approaches that provide decent housing, a suitable living environment, and expanded economic opportunities for low and moderate income persons.