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CA lawmakers consider tax on short-term rentals
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California lawmakers are considering a new bill that would tax short-term rentals to fund affordable housing.
Senate Bill 584, proposed by Senator Monique Limon from Santa Barbara as a way to address the state's housing crisis.
“Our vacation rental market is something that has increased quite significantly in the last decade, and to the point that it has now a vested role in a lot of our communities, particularly in areas that are tourist attractions in the state,” said Limon.
Limon says SB 584 is part of a broader conversation about funding sources for affordable and workforce housing.
“Trying to identify what kinds of investments in the form of an assessment to vacation rentals should come out and to also keep dealing with some of our hardest issues in the state," she continued.
The bill would impose a 15% statewide tax on people staying at short-term rentals, that’s in addition to existing Transient Occupancy Taxes.
Senate Bill 584, proposed by Senator Monique Limon from Santa Barbara as a way to address the state's housing crisis.
“Our vacation rental market is something that has increased quite significantly in the last decade, and to the point that it has now a vested role in a lot of our communities, particularly in areas that are tourist attractions in the state,” said Limon.
Limon says SB 584 is part of a broader conversation about funding sources for affordable and workforce housing.
“Trying to identify what kinds of investments in the form of an assessment to vacation rentals should come out and to also keep dealing with some of our hardest issues in the state," she continued.
The bill would impose a 15% statewide tax on people staying at short-term rentals, that’s in addition to existing Transient Occupancy Taxes.
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