July 23, 2017

In N.J., Airbnb may not always be tax-free

Smartphone Samsung Galaxy S6 open apps airbnb application on the screen on the desk.
Copyright: chonlachai / 123RF Stock Photo

A bill the Assembly passed Monday would apply hospitality taxes to online rentals. (Bloomberg News)( TRENTON — A bill to treat and tax such online short-term rental marketplaces as Airbnb like other hotels and motels passed the state Assembly on Monday.

The bill’s sponsors say these “transient accommodations” have enjoyed special status in New Jersey, while more traditional lodging providers are regulated and subject to taxes.

Such marketplaces have gained popularity in recent years, allowing people to list and book apartments, houses, villas, and even castles throughout the world for a night, a week, or a month. The most famous, Airbnb, boasts listings in 65,000 cities and 191 countries. In New Jersey, about 6,100 residents hosted sites through Airbnb last year , renting to about 257,000 people. That resulted in $50 million in income for the renters, the company said.

But critics say hotels and the housing market are taking a hit because of […]

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