Some Good News from Senator Bob Rankin
Regarding the Tax Structure for Short Term Rentals
I’ve received a lot of messages in the last few days from concerned constituents inquiring about potential legislation that would modify the tax structure or rates of property tax for Short Term Rentals. I need to clarify the status of any potential late bill introductions.
To be clear, I do NOT plan to introduce any legislation this year, but I do hope to keep the dialogue active. At this point, I also do NOT believe that other legislators will offer legislation this session.
I have been in discussions about this issue. In fact, it comes up every year in some form. While there are some abuses of the residential classification of property being used for commercial properties, I recognize that there are also many homeowners who rent part time with benefits to the community’s economy. I see no simple (or elegant) acceptable change currently being proposed.
Thank you for all of your comments and suggestions. It’s encouraging to know that so many constituents are paying such close attention.
Senator, Colorado Senate District 08