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1540 WADK.com Updates

Realtors ask lawmakers to reject new tax on vacation rentals

Real estate agents are asking lawmakers to reject a proposed new tax on vacation rentals.

The Rhode Island Association of Realtors opposes the tax that's included in the budget proposal now headed to the House floor.

Association President Bruce Lane says vacationers would go to neighboring states instead, and some people wouldn't buy second homes in Rhode Island if the houses were harder to rent because of the added tax.

He also complains it would begin at the start of the summer season, and renters budgeted for vacation without expecting to pay hundreds more in taxes.

The budget proposal expands the definition of hotel to small bed and breakfasts, private home rentals and other rentals.

The proposed tax was expected to generate about $700,000 in fiscal 2016.

 

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