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SB20-109

Short-term Rentals Property Tax

Concerning the property tax classification of property used for short-term rentals.
Session:
2020 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

For purposes of the property tax, the bill classifies an improvement that is used to provide short-term stays, which is overnight lodging for less than 30 consecutive days in exchange for a monetary payment. A building or a portion of a building that is designed and used as a residency by a person, a family, or families and that is leased or available to be leased for short-term stays is a residential improvement and, therefore, it is classified as residential property.

A short-term rental unit is excluded from the definition of residential improvements and, therefore, it is classified as nonresidential property. A short-term rental unit is defined to mean a building or a portion of a building that is designed for use predominantly as a place of residency by a person, a family, or families, but that is leased or available to be leased for short-term stays during the property tax year and is occupied by the owner for less than 30 days in a year.


(Note: This summary applies to this bill as introduced.)

Status

Introduced
Lost

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Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Sen. B. Gardner

Sponsor

Co-sponsor

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Temporary Guidelines for Review and Comment Meetings

The House and Senate are temporarily adjourned. The building is closed to the public.