All Forum Posts by: Randy Dubiskas

I remember it like it was yesterday ;).

I wrote a paper on this for school once upon a time and an interesting detail about the "Tulip Bubble" is that the story as it is usually told today is actually mostly false. The story was extremely exaggerated by a Scottish journalist in 1841 who was ahead of his time in the "Fake News" sector, and the tulip "mania" actually didn't involve very many people and had very little economic impact: 

 https://www.smithsonianmag.com/history/there-never-was-real-...

I suppose we can still draw lessons from a story that is mostly fiction, but more accurate comparisons would probably be the South Sea Bubble in 1700s England, the 19th century railway bubble, or the dot.com bubble. 

@Randy Dubiskas currently in Colorado there is a bill in committee to make a new category of “lodging” for any home rented out more than 90 days per year short term (under 30 days). This would really increase the property tax on STRs. I spoke with our assessor in Colorado Springs a couple of years ago and this is exactly what he told me he was recommending to politicians at the state level.

https://leg.colorado.gov/sites/default/files/images/committees/bill_6_24-0388.pdf?fbclid=IwAR3_82R2GbrrTQ0diMMKj9pyy3fOplEJTO6ny4dKRKYf89nFVbV0dYtnVNg_aem_AfhYQ4ypdCSKYTIC8FQXm2QLf-N_7ErU7jiArZZpfOk5qnUp981jEGtYZk1tNl7h454

This is already true for almost all long term rentals. Most property tax caps are only for owner occupied properties. Some states like Nevada also have a tax cap for “affordable rentals” based on rent/divided by bedrooms. (3% vs 8%)

Unless you’re talking about STR of rooms while the owner still lives there (as required in Vegas and other locales.) obviously they should be treated as rentals. There shouldn’t be a different property tax 7 day, 30 day, or 365 day rentals. 

My MN property tax has more than doubled in 7 years because it’s a rental versus owner occupant, just the way it’s always been.