A bill hiking taxes for many short-term rentals in Colorado dies in first committee hearing
A invoice that may have considerably grown taxes for 1000’s of short-term leases within the state was killed in its first committee listening to late Tuesday even after the sponsor tried to make modifications to the laws.
In its unique type, Senate Invoice 33 would have required any property used as a short-term rental for greater than 90 days per yr to pay the state’s lodging tax. Colorado’s property tax evaluation price for lodging properties in 2023 was 27.9%. For residential properties, it was set at 6.765%.
Sen. Chris Hansen, a Denver Democrat and prime sponsor of the invoice, proposed altering the invoice into solely a examine of short-term rental impacts. His modification additionally would have prevented lodges from reclassifying their models as short-term leases to keep away from greater taxes.
The committee rejected these amendments and the general invoice.
Hansen disclosed the idea for the amendments to the Summit Day by day final week and a few who have been against the invoice, together with Chris Romer from the Vail Valley Partnership, stated they’d assist these modifications.
Learn the total story from our accomplice at summitdaily.com.
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