Short-term rental bill to ‘greatly’ impact Edgartown
Martha’s Vineyard Commission executive director Adam Turner gave Edgartown selectmen a briefing on a short-term rental tax bill that is expected to pass in January.
If approved, House bill 4841, An Act Regulating and Insuring Short-Term Rentals, would give towns a local option on short-term rentals. Towns would have the authority to put up to a 6 percent tax on people who rent their houses for less than 30 days. Whether the Island towns decide to add the tax, the state will take an additional 5 percent cut, Turner said.
Turner believes the bill will pass, saying short-term rental businesses such as Airbnb are a “significant” part of the bill. “This is probably going to happen,” Turner said. “It will impact the town greatly.”
The bill is expected to be one of the first items state legislators work on in January. If the bill passes, it would not go into effect until 2020.