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Legislative Year: 2024 Change

Bill Detail: SB24-033

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Title Lodging Property Tax Treatment
Status Senate Committee on Finance Postpone Indefinitely (04/16/2024)
Bill Subjects
  • Fiscal Policy & Taxes
House Sponsors M. Weissman (D)
Senate Sponsors C. Hansen (D)
House Committee
Senate Committee Finance
Date Introduced 01/10/2024

Legislative Oversight Committee Concerning Tax Policy. The
bill establishes that, for property tax years commencing on or after
January 1, 2026, a short-term rental unit, which is an improvement that
is designated and used as a place of residency by a person, family, or
families, but that is also leased for overnight lodging for less than 30
consecutive days in exchange for a monetary payment (short-term stay)
and is not a primary residence, and the land upon which the improvement
is located, may be classified as either residential real property or lodging
property. If, during the previous property tax year, a short-term rental unit
was leased for short-term stays for more than 90 days, then it is classified
as lodging property. Otherwise, it is classified as residential real property.
Actual value for a short-term rental unit that is classified as lodging
property is to be determined solely by application of the market approach
to appraisal.
The bill also specifies, with an exception for a property that
qualifies as a bed and breakfast, that a building designed for use
predominantly as a place of residency by a person, a family, or families
but that is actually used, or available for use, to provide short-term stays
only is a hotel and motel.
For purposes of applying the classification of either residential or
lodging to a short-term rental unit, annually, the assessor is required to
send notice to owners of short-term rental units of the number of days
during the prior property tax year that the assessor has determined the
property was leased for short-term stays. An owner must sign and return
the notice and, if the owner disputes the number of days the property was
leased for short-term stays, the owner must provide evidence
demonstrating a different number of days the property was leased for
short-term stays.
Additionally, the property tax administrator is required to establish
and administer a pilot program to develop a statewide database and
uniform reporting system to track short-term rental units.

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