Updated: January 23, 2020 07:26 PM
Created: January 23, 2020 05:05 PM
ALBUQUERQUE, N.M. – Operators of short-term rentals like Airbnb or Vrbo could be facing a hefty licensing fee from the City of Albuquerque. The proposed permit is $250 per unit per year, on top of a lodging tax.
Rental property operator Austin Wolff was caught off guard by the dollar amount and said it could add up quickly.
“I think the City of Albuquerque is just looking for a little bit more money than they're already receiving,” he said. “For me that's $1500 per year.”
The City of Albuquerque created a task force for short term rentals in 2019. By June, they published a report with their findings and recommendations, but after seven months, the city council has yet to make a decision. Rental operators just want clarity.
“I don’t know if I can invest the money back into my business and make sure I keep these experiences as nice as they currently are,” Wolff said. “Without the option to stay someplace that’s not a hotel, people aren’t going to see the great things Albuquerque has to offer.”
While Albuquerque is proposing a flat rate, some states, like Connecticut charge operators a 15% tax on each transaction.
City Councilor Diane Gibson her office will have a "Short Term Rental ordinance" prepared and ready for the city council to address in the spring.
Copyright 2020 - KOB-TV LLC, A Hubbard Broadcasting Company