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Published on April 04, 2024
This bill would also allow local governments to collect sales tax on short-term rentals for the first time — an additional revenue source that could be used to address local housing and other needs while reducing reliance on property taxes. Additionally, the legislation includes requirements that rental hosts carry insurance and have health and safety protections in place.
"We have seen a huge growth in the STR market in Ulster County over the years, and some communities have seen as much as 5% to 10% of their housing stock converted to short-term rentals,” said County Executive Metzger. “While STRs have benefits for our communities and local economy, there is no question that the growth of this market is exacerbating the housing affordability crisis, and the proposed legislation will enable communities to better balance the benefits with the costs and impacts on their communities. I want to thank State Senator Hinchey and Assembly Member Fahy for sponsoring this important legislation, and I strongly urge the Governor and Legislative Leaders to include this bill in the final budget.”