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A bill that would have quadrupled property taxes for thousands of short-term rentals in Colorado is set to be significantly watered down next week, according to the bill’s sponsor.
Since Sen. Chris Hansen, D-Denver, proposed the bill in the fall, AirBnB, VRBO and other short-term rental owners have rallied against the idea, saying it would devastate the tourism economy that ski towns rely on.
Senate Bill 33 proposed classifying any property used as a short-term rental for more than 90 days per year as a lodging property beginning in 2026. Colorado’s property tax assessment rate for lodging properties in 2023 was 27.9%. For residential properties, it was set at 6.765%.
If Hansen’s amendments are approved in Tuesday’s Senate Finance Committee hearing, Senate Bill 33 will instead require only a study of short-term rentals in the state. It would also prevent hotels from converting their rooms into short-term rentals to avoid paying the state’s lodging tax, Hansen said.
Read the full story at our partner, Summit Daily.
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