Post by High Priestess on Mar 12, 2019 16:15:32 GMT
A new tax on rentals less than 90 days long comes to Jersey Shore, and has many upset. 3 months is a LONG rental....odd that anything over 30 days would be taxed as a short term rental. Oddly too, rentals arranged through a realtor are exempt from the tax. So I guess all you need to do is take a real estate license course and become a realtor then your property wouldn't be taxed.
The 11.6 percent tax applies to all rentals fewer than 90 days, including those made on home-sharing sites or directly between a renter and an owner. The only exceptions are rentals arranged through a realtor, which are not subject to the tax.
In Massachusetts, critics warn that the new tax will wreak havoc on the state’s summer tourism season in places like Cape Cod. The same arguments are being put forth in New Jersey.
Vacationers are abandoning long-held traditions and heading elsewhere. Homeowners complain they are having a hard time filling properties when they should be well on their way to being fully booked for summer. And businesses that rely on free-spending summer visitors fear that the rental tax threatens their most important time of year.
Susan Hiller said she was heartbroken to be heading to Palm Beach, Fla., with her four daughters and extended family for their annual summer vacation.