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Time for Murphy to sign tax relief on Jersey Shore rentals

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photo courtesy of ArtChick Photography

the staff of the Ridgewood blog

Seaside Heights NJ,  Assembly Republican Leader Jon Bramnick called on Gov. Phil Murphy to sign legislation fixing a 2018 law that inadvertently taxed owners of summer rentals.  The bill (A4814) has been sitting on his desk since June 27.

“Quick action is needed to save what remains of the summer vacation season,” said Bramnick (R-Union).  “Every day that passes with this tax still in place is less income for families to spend while on vacation at the Shore.”

Both houses of the Legislature unanimously passed the bill in June.  It exempts homeowners who rent directly to vacationers from last year’s Airbnb tax, which extended the 6.625 percent sales tax and the 5 percent hotel and motel occupancy fee to private rentals of less than 90 days.

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Murphy Grants Tax break to Hollywood ,but Raises Taxes on Jersey Shore Rentals

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the staff of the Ridgewood blog

Trenton NJ, Senator Joe Pennacchio (R-26) questioned Governor Murphy’s motive to provide a multi-million dollar tax subsidy to Hollywood’s film industry while simultaneously increasing taxes that negatively impact New Jersey’s shore homeowners and the summer tourism industry.

“Governor Murphy’s tax break for the Hollywood film industry stands in stark contrast to his tax hike on New Jersey shore house renters,” Pennacchio said. “While the Hollywood-connected elite will enjoy $425 million in subsidies, beach renters could pay up to an additional 14 percent in taxes. This could amount to hundreds of dollars in fees on what was once an affordable family vacation. The owners of these shore rentals are also paying an unfair price, on top of the already high taxes and operational costs required to maintain their properties.

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Jersey shore rentals slow in second post-Sandy season

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Jersey shore rentals slow in second post-Sandy season

MARCH 16, 2014, 3:35 PM
BY WAYNE PARRY
ASSOCIATED PRESS

TOMS RIVER — In a normal year, many of the prime summer beach house rentals at the Jersey shore would be gone already, snapped up by vacationers months in advance.

This is not a normal year, again.

As the second summer season following Superstorm Sandy approaches, shore rentals are still available because of a combination of factors keeping many renters from making up their minds as quickly as they had in years past. That’s good news for vacationers, who could have more options than usual, but not-so-great news for shore towns counting on this summer to be noticeably better than last year’s.

Cyndy Yates, of Valley Forge, Pa., is one of the late bookers. She decided last week on a place in Avalon because her usual rental is being renovated.

“We would make our decisions definitely by January at the very latest,” she said. “A lot of times, between November and the end of the year, we would know where we were going to rent.”

A big factor in the late-developing market, particularly in Ocean County, is the ongoing project to rebuild Route 35. That is the second-busiest highway at the shore, a crucial north-south route winding through beach towns that were among the hardest hit by the Oct. 29, 2012, storm. Lane closures, stop-and-go traffic and heavy equipment tearing up pavement have led to massive backups during the winter.

Another factor is uncertainty over which beaches will be open for the 2014 season as repairs continue in the worst-hit shore towns.

And a seemingly never-ending series of winter storms and frigid temperatures has kept people huddled inside instead of driving to the shore to check out potential vacation spots.

– See more at: https://www.northjersey.com/news/jersey-shore-rentals-slow-in-second-post-sandy-season-1.743778#sthash.0GlJk5QA.dpuf