Subscribe: Apple | Spotify | RSSLocal governments are preparing for potential ballot initiatives in November that would slow property tax collections as real estate values climb. While the tax on vacant homes would require voter approval, a real estate transfer fee could be passed by local elected officials. Crested Butte voters in 2021 rejected a proposal for a $2,500-a-year empty home tax on homes that were vacant half the year. The survey showed 90,728 of those unoccupied homes were for “seasonal, recreational or occasional use” and 43,819 of those vacant homes were available for rent. Colorado legislators have counted about 24,100 homes in Colorado that are available as short-term rentals, many of those clustered around resort communities.

Source: Daily Sun August 07, 2024 10:01 UTC