Vote NO on Taxing Vacation Rentals as Commercial Property
The Issue
Hello Colorado Short-Term Rental Advocates,
On October 31st, the Legislative Oversight Committee Concerning Tax Policy voted 4-2 to advance a bill to the upcoming legislative session which proposes that if a home is rented short-term for more than 90 days, it will be considered commercial 'lodging property' and taxed as such. Lodging property has an assessment rate of 27.9%, a rate more than four times as high as residential property. This potential change threatens the economic well-being of residents and communities statewide that heavily rely on tourism. Your voice is essential in making our lawmakers understand the potentially devastating consequences of this bill.
The Colorado Lodging and Resort Alliance (CLARA) is spearheading the effort to fight this bill. They are able to represent the vacation rental industry as a unified voice and they have the partnerships and tools in place to be impactful moving forward with this discussion. Please consider donating to their effort today- any amount helps. You can also become a CLARA member and by doing so you'll be kept up to date on what is happening and informed on what you can do to be impactful in stopping it from passing.
Colorado Sun article about the October 31st committee meeting
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Original Post:
We need your support and immediate action to address a critical issue currently under consideration in the Colorado State Legislature. A bill is on the table that could increase property taxes for short-term rental hosts by as much as 400%. The proposed reclassification of homes from residential to commercial could result in tax increases that, in many cases, exceed the total annual earnings of a typical host. This potential change threatens the economic well-being of residents and communities statewide that heavily rely on tourism. Your voice is essential in making our lawmakers understand the potentially devastating consequences of this bill.
The bill proposes that if a home is rented for more than 90 days, it will be considered 'lodging property' and taxed as such. Lodging property has an assessment rate of 27.9%, a rate more than four times as high as residential lodging.
On Tuesday, October 31st, the bill will be discussed at the state capitol. Our understanding is that Tuesday's vote will determine what draft bills ultimately move forward to the legislative session beginning in January. We are hoping to have a large presence at the state capitol on Tuesday and anyone in attendance is welcome to speak. More information on Tuesday's vote is below. We hope to see as many of you there as possible.
Your signature on this petition will help show the committee the level of opposition that this bill has throughout the state.
For those interested in attending the meeting:
Where: State Capitol Building, House Committee Room 112.
When: Tuesday, October 31 at 10:00 AM MDT
Petition Closed
The Issue
Hello Colorado Short-Term Rental Advocates,
On October 31st, the Legislative Oversight Committee Concerning Tax Policy voted 4-2 to advance a bill to the upcoming legislative session which proposes that if a home is rented short-term for more than 90 days, it will be considered commercial 'lodging property' and taxed as such. Lodging property has an assessment rate of 27.9%, a rate more than four times as high as residential property. This potential change threatens the economic well-being of residents and communities statewide that heavily rely on tourism. Your voice is essential in making our lawmakers understand the potentially devastating consequences of this bill.
The Colorado Lodging and Resort Alliance (CLARA) is spearheading the effort to fight this bill. They are able to represent the vacation rental industry as a unified voice and they have the partnerships and tools in place to be impactful moving forward with this discussion. Please consider donating to their effort today- any amount helps. You can also become a CLARA member and by doing so you'll be kept up to date on what is happening and informed on what you can do to be impactful in stopping it from passing.
Colorado Sun article about the October 31st committee meeting
----------------------
Original Post:
We need your support and immediate action to address a critical issue currently under consideration in the Colorado State Legislature. A bill is on the table that could increase property taxes for short-term rental hosts by as much as 400%. The proposed reclassification of homes from residential to commercial could result in tax increases that, in many cases, exceed the total annual earnings of a typical host. This potential change threatens the economic well-being of residents and communities statewide that heavily rely on tourism. Your voice is essential in making our lawmakers understand the potentially devastating consequences of this bill.
The bill proposes that if a home is rented for more than 90 days, it will be considered 'lodging property' and taxed as such. Lodging property has an assessment rate of 27.9%, a rate more than four times as high as residential lodging.
On Tuesday, October 31st, the bill will be discussed at the state capitol. Our understanding is that Tuesday's vote will determine what draft bills ultimately move forward to the legislative session beginning in January. We are hoping to have a large presence at the state capitol on Tuesday and anyone in attendance is welcome to speak. More information on Tuesday's vote is below. We hope to see as many of you there as possible.
Your signature on this petition will help show the committee the level of opposition that this bill has throughout the state.
For those interested in attending the meeting:
Where: State Capitol Building, House Committee Room 112.
When: Tuesday, October 31 at 10:00 AM MDT
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Petition created on October 30, 2023