Rental Tax Hike Could Mean You’ll Pay More to Vacation at the Jersey Shore
A new increase in taxes for rental home owners along the Jersey shore could mean an increase for those of us planning to vacation there.
The tax has gone up to 11.265% in most Jersey shore towns.
Long Beach Island homeowner Denise Payne, who has been renting her home for years, tells 6abc.com the hike could result in additional weekly rental costs, anywhere from $300 to $1500, dealing a huge blow to the shore house renting season, and possibly Jersey shore tourism overall.
If the homeowners have to pay more in taxes, they'll most likely be forced to increase the price of weekly and monthly rental to compensate for their new costs.
Payne says, "And that's why we've lost out on a number of rentals because we're supposed to collect this tax and it comes as a surprise to people, some people who have rented the same house down on the shore for years."
Vacation properties span nearly 130-miles along the Jersey shore coastline, according to 6abc, and are a popular destination, especially for families from nearby states like Pennsylvania, New York, and Delaware.
Will you still rent at the shore if you have to pay more because of this new tax? Let us know in the comment box below.