ALBANY, N.H. (WCAX) – Pending legislation on short-term rentals in New York is waiting for Governor Kathy Hochul’s signature. It focuses on keeping track of how many units there are, by creating a rental registry.
“From all indications, I think the Governor wants to get something done there,” said New York Speaker of the Assembly Carl Heastie.
Owners of short-term rentals would register their business with the Department of State and renew their rental every two years. Another component of the bill includes revenue and would institute a sales tax on short-term rentals, which would fall on consumers looking to book a stay.
“There’s a revenue component of it, as we are grappling with the concerns on the shortage of housing across the state, so I think those are two very big reasons for wanting to do it,” Heastie said.
For communities in New York’s North Country, regulations on short-term rentals are nothing new. The city of Plattsburgh recently created its own registry, requiring business owners to pay registration and renewal fees.
Other municipalities, like Wilmington, New York, the home of Whiteface Mountain, have also capped the number of short-term rentals in the area to 150, or 20% of the area’s available housing stock.
Town Supervisor Favor Smith says he believes the bill could be an added financial boost.
“Sales tax is probably the biggest revenue for Essex County, it is not land tax,” Smith said.
Organizations like New York’s Regional Office of Sustainable Tourism, or ROOST, believe it will even out the scales between short-term rentals and hotels in the region.
“This just evens the playing field a little bit for everyone involved,” said Mary Jane Lawrence of ROOST.
Lawrence says she doesn’t believe the fees will deter potential guests from reserving a vacation rental.
“Short-term rentals are part of the industry, it is what the traveler is looking for, some travelers are looking for but they are also used to paying the additional taxes that go along with traveling. Whether it is the occupancy tax or sales tax, so, it is not that new. It might be new for the short-term rental industry but it’s not that new for the traveler.”
The bill also includes data tracking of stays at short-term rentals. If it gets the green light from Governor Hochul, the legislation would go into effect 120 days after being signed.