Colorado rental homeowners may be getting hit with heavier taxes if a state bill passes in the next few months, and it could leave a lasting mark on the housing market.The legislation would classify short term rental properties as 'commercial' and therefore institute a higher tax rate on the homeowners, bringing in hundreds of millions in additional revenue for the state each year.
Many of the chief complaints from homeowners is that short-term rental revenue is what allows them to afford property in the first place.'Hosts are regular people who share their home to earn supplemental income and cannot afford to pay the 400 percent property tax increase,' Dana Luber, a Colorado Airbnb host and founder of the Colorado Lodging and Resort Alliance, told Newsweek.