Quote:
Originally Posted by Papa_lecki
There’s a bill in the Colorado assembly. If approved during the 2024 lawmaking session, the bill would classify any property used as a short-term rental for more than 90 days per year as a lodging property beginning in 2026.
That would nearly quadruple property taxes for an estimated 24,000 short-term rental properties in the state. The property tax assessment rate for lodging properties in 2023 is 27.9%. For residential properties, it was set at 6.765%.
Here’s an article on the bill
Colorado legislature will introduce bill hiking taxes for short-term rental properties | VailDaily.com
Could this be done in FLA at the county level? |
Classifying STRs as lodging seems to be logical since the homes are not solely used for residential use. It clearly establishes STRS for what they are - a business!
Will it stop STRs? Probably not. There will always be some who find renting homes for a day or two in a resort area or near family is better than staying in a distant hotel/motel. They will be willing to pay extra for the convenience.