July 23,2017
the staff of the Ridgewood blog
Ridgewood NJ, Gov. Chris Christie vetoed legislation on Friday that would have imposed taxes on the state’s burgeoning “home-sharing” industry.
The bill was an effort to target and regulate an industry dominated by San Francisco-based Airbnb, even as some municipalities in the state move toward banning the practice within their borders.
According to committee testimony Airbnb had 260,000 rentals in New Jersey last year alone and some municipalities such as Jersey City and Newark already have reached agreements with Airbnb to collect 6 percent fees. Other towns primarily those in Atlantic and Cape May counties, and near the New Jersey Meadowlands are permitted to charge additional taxes and fees.
Currently about 17 towns In New Jersey, mostly in Northern New Jersey closer to New York City, have chosen to bar such rentals, including Palisades Park, Englewood Cliffs, Fort Lee, Lyndhurt and Glen Rock.
Not surprisingly the bill two major proponents are the New Jersey Hotel and Lodging Association and the New Jersey Restaurant and Hospitality Association.
