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Government Affairs
NSAR States Opposition to Rental Tax
5.21.09
The North Shore Association of REALTORS® recently submitted to the Joint Committee on Municipalities and Regional Government, a written opposition statement in response to a move to impose a significant new tax burden on property owners who rent out their properties for 90 days or less.
The recommendation, contained in a report from the Special Commission on Municipal Relief, seeks to impose a tax on all types of vacation and short-term rental properties in Massachusetts.
The proposal would create registration and reporting requirements which, up until now, have only been required of businesses such as hotels and motels. The report also contains a section that would expose property owners to additional room occupancy taxes which could be levied by cities and towns. Such a tax would have a chilling effect on the purchase of rental properties in the state further exacerbating the downturn of the real estate market.
Clink on link below to see full opposition statement.- Attachment:
- nsar_response_to_home_rental_tax.pdf