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Landlords worried about impact of Portland property revaluation


Portland’s first property valuation in 15 years is hitting some multi-unit property owners hard, which could impact rent for tenants.Some landlords have reported that their property tax bills will double due to the revaluation. I don t want to have to have to increase the rent so much that they can t afford to live here,” landlord Kim Sutton said.Sutton’s one-bedroom apartment currently rents for $1,350 per month. She said she can’t double the rent because her taxes have nearly doubled. Yeah, you re not allowed to do that with rent control,” Sutton said.Portland voters passed a rent control measure last November. The ordinance allows landlords to only increase rent once a year and by no more than 10%. I say welcome the mess that rent control has created, because it s not clear what the path forward is,” Southern Maine Landlord Association President Brit Vitalius said.Vitalius said he thinks the higher tax bills and new rent control measures will have a negative im ....

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