Ocean City Council passes 3% tax on rentals booked on third-party services like Airbnb - 6abc Philadelphia

5 months agoOcean City, nullScore: 85
Regulations & Compliance
Local News
Local Regulations
Tax Strategy
Airbnb
Pricing Strategy
Profitability

Summary

Ocean City has implemented a 3% tax on short-term rentals booked through third-party platforms like Airbnb. Hosts in Ocean City must now factor in this new tax when calculating their pricing and profitability.

Key Insights

  • •Ocean City Council passed a 3% tax on rentals booked on third-party services like Airbnb.

Action Items

  • ✓
    Hosts should update their pricing to account for the new 3% tax.
    Effort: low
    Impact: medium

Watch Out For

  • ⚠Failing to account for the new tax could result in underpayment and potential penalties.