About thirty percent of rent control tenants will see a reduction in surcharges this September when the next general adjustment goes into effect. After months of debate, the Rent Control Board has limited the amount of taxes landlords can pass along to tenants to $35 or four percent of their rent, whichever is lower.

The new limit will provide the most relief for tenants in buildings that have been sold and reassessed during Santa Monica’s recent real estate boom. Many of those tenants saw their fees skyrocket as property values soared. Ninety percent of tenants whose properties have been sold since 2012 will see relief.

Surcharges for about 70 percent of rent-controlled tenants are already less than $35, according to a city report. The median surcharge amount is $24.41. The highest monthly surcharge paid by a tenant is $137.03.

Read More: http://smdp.com/rent-control-board-caps-surcharges/166269