Ocean City Plans 3% Tax on Some Short-Term Rentals - Cape May County Herald
Summary
Ocean City is implementing a 3% tax on some short-term rentals. Hosts in Ocean City need to be aware of this new tax to ensure compliance and accurately calculate their revenue.
Key Insights
- •Ocean City will implement a 3% tax on some short-term rentals.
Action Items
- ✓Hosts should review their local tax requirements and update their financial planning to account for the new tax.Effort: lowImpact: medium
Common Mistakes
- ⚠Failing to comply with the new tax regulations could lead to penalties.
More from Regulations & Compliance
The Green Bay Common Council will consider changes to its short-term rental ordinance. This could involve new regulations or revisions to existing rules. Hosts in Green Bay should stay informed about potential updates and how they might impact their operations.
Local commissioners denied a short-term rental application, suggesting potential regulatory hurdles for new STR operations. This indicates increasing scrutiny on STRs within this locality. Hosts should be aware of potential local restrictions and permitting requirements before investing in or launching short-term rentals.
The Green Bay Plan Commission is updating its short-term rental ordinance. Details are not given, but this news signals potential changes for hosts in the area. Hosts should stay informed about the new regulations to ensure compliance and avoid penalties.
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