file photo of Ridgewood Real-estate
By Michael Symons May 10, 2017 5:33 PM
Home-sharing rentals may be taxed in New Jersey beginning next year, under a bill with the blessing of Airbnb that took another step through the Legislature on Wednesday.
The bill would impose the same sales and lodging taxes that hotels and motels already collect. In some municipalities, that adds up to 18 percent, said bill sponsor Assemblywoman Annette Quijano, D-Union.
“There are many reasons why this bill should be enacted. In a nutshell, it’s really about fairness,” said Quijano.
“The way our laws are right now provide a considerable disadvantage to those who already run hotel and motel businesses and are a considerable hurdle to those contemplating investing in our hotels and motels in this state,” she said.
“I don’t believe that all those who use Airbnb or other services like it are necessarily choosing it because they love the idea of home sharing over a hotel or motel,” Quijano said. “I believe much of the choice is driven by the fact that home sharing services have a huge competitive advantage. They don’t have to pay taxes.”
Read More: Home-sharing rentals in New Jersey may be taxed by next year | http://nj1015.com/airbnb-rentals-in-new-jersey-may-be-taxed-by-next-year/?trackback=tsmclip