Mountain towns weigh Colorado’s first-ever tax on empty homes

Aug 1, 2024 · In South Lake Tahoe, voters this fall will weigh a tax on homeowners whose properties are empty more than 182 days a year. The tax — $3,000 per unit for the first year of vacancy and $6,000 for subsequent years — would support building more housing for working …

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Mountain Towns Weigh Colorado’s First-ever Tax On Empty Homes

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Colorado Resort Communities Want A Vacancy Tax On Vacant Homes

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Aug 7, 2024 · 3:50 AM MDT on Nov 1, 2023. 3:50 AM MDT on Jul 22, 2024. Crested Butte voters in 2021 rejected a proposal for a $2,500-a-year empty home tax on homes that were vacant …

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Colorado Mountain Towns Are Full Of Vacant Trophy Homes And …

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Sep 4, 2024 · Residential vacancy rates are above 40% in some Colorado mountain towns, according to CAST. CAST hopes a vacancy tax would incentivize homeowners to rent to full …

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Mountain Towns In Colorado Are Full Of Vacant Trophy Homes And …

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Sep 4, 2024 · Residential vacancy rates are above 40% in some Colorado mountain towns, according to CAST. CAST hopes a vacancy tax would incentivize homeowners to rent to full …

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CO Mountain Towns Seek Tax On Vacant Homes | Own In Aspen

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The taxes, which so far range from 1% to 3%, can produce millions of dollars in revenue per year for the towns. According to 2021 data from CAST, Aspen made nearly $32 million from its …

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Colorado Mountain Towns Are Full Of Vacant Trophy Homes And …

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Sep 11, 2024 · Residential vacancy rates are above 40% in some Colorado mountain towns, according to CAST. CAST hopes a vacancy tax would incentivize homeowners to rent to full …

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AIRbnb Tax: Ski Towns Plan To Lobby For Tax On Vacant, Short-term …

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The vacant property is taxed at $5 per $100 of assessed value. In 2018, 70% voters in Oakland, Calif., approved a vacant property tax. Homes in use less than 50 days a year will be subject …

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Colorado Mountain Voters Weigh More Taxes On Short-term Rentals

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Oct 26, 2022 · Another measure asks voters to raise the lodging tax to 6% from 2%. Grand Junction — City leaders want to increase the lodging tax to 7% from 6% and increase the tax …

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FAQs about Mountain towns weigh Colorado’s first-ever tax on empty homes Coupon?

Are empty homes taxed in Colorado?

There are no communities in Colorado that tax empty homes, but the growing challenge of building affordable housing for workers in mountain communities where real estate prices are soaring and as many as 40% of homes are unoccupied by full-time residents is fueling creative thinking around new revenue sources. ...

Should a Colorado vacancy tax be imposed on vacant homes?

(The Center Square) – A group of 28 Colorado resort towns wants the General Assembly to authorize local governments to assess higher taxes on homes sitting vacant or used for short-term rental most of the year. The Colorado Association of Ski Towns plans to lobby legislators to pass a law allowing municipalities to charge a local vacancy tax. ...

Why are there more vacant homes in mountain towns?

It stated an increase in the inventory of vacant homes is especially prevalent in mountain towns as approximately 40% of homes can be categorized as vacant. “At the same time, these communities tend to be short on developable land and unable to build their way out of the imbalance,” according to the position paper. ...

Will an empty homes tax help local housing efforts?

“But for some of our communities, an empty homes tax will encourage renting homes to locals and will raise money for local housing efforts.” Homes with no one living in them and homes occupied only by people who have a usual residence elsewhere are defined as vacant, according to the U.S. Census Bureau. ...

What is Crested Butte's new home tax?

The legislation is meant to deter real estate speculation in a state where investors from afar now spend as much as $5 billion a year on homes, up from $500 million in 2008. 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. ...

Which communities are collecting record revenue?

Those communities — Aspen, Avon, Breckenridge, Crested Butte, Frisco, Gypsum, Snowmass Village, Telluride, Vail and Winter Park — are collecting record revenues in recent years as home prices soar.) CAST also plans to lobby for legislation that would smooth the process for asking voters to allow taxes on short-term rentals. ...