Short-term rental property; shall classify as a separate classification of merchants' capital. (SB355)
Introduced By
Sen. Mark Obenshain (R-Harrisonburg)
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Local taxation of short-term rental property. Provides that short-term rental property is a classification of merchants' capital and for local property taxation purposes shall be subject to the merchants' capital tax or the short-term rental property tax, but not both. The bill also prohibits a locality from levying both a short-term rental property tax and a BPOL tax on merchants engaged in the business of short-term property rentals.
The bill would be effective for tax years and license years beginning January 1, 2011. View Full Text »
Outcome
Bill Has Passed
View Bill's History
Comments
Senator Obenshain: It seems the folks trying to ban short-term rentals in Massanutten have gotten you to do their dirty work. This is just an attempt to ban a practice that takes place throughout Virginia and the country and provides folks a service they can't get from a hotel. Your disguising this "a way to generate revenue" is ludicrous. In reality this is you trying to accomodate a constituent that wants to BAN SHORT-TERM RENTALS. A Republican advocating raising taxes on folks that help bring in Virginia tourism dollars .... what is the world coming to. Great sound bite for your next opponent. I hope when we ask to see your contibutors there is not a bunch of donations from the Massanutten folks against short-term rentals - if so, the newspapers will have a field day.
Another year, another failed attempt to regulate short-term rentals through taxation. Why won't legislators realize that short-term rentals are vital to the Virginia economy and are permissible according to the Virginia Supreme Court. We have defeated these bills three years in a row and will do so again. If you want to tax short-term rentals, we have asked that you work with us to ensure that the taxes are legitimately imposed and do not change the residential nature of the homes that are rented. Why do you keep refusing to work with us and instead propose your own versions? As long as you do so, we will ensure that these bills fail.