Back in July, New Jersey passed several new taxes as part of the budget approval process. The most problematic of those is the application of both Sales & Occupancy taxes on Vacation Rentals. As of October 1st, Vacation rentals are now subject to a total of 11.625% in taxes. Some municipalities add their own Occupancy Taxes that can bring the total tax rate on rentals to 13.625%!
These increased rental costs will undoubtedly cut into every traveler’s vacation budget. At best, vacationers will spend LESS money at the Jersey Shore. At worst, they may choose to vacation elsewhere and spend NO money at the Jersey Shore. This would be devastating to the local economy as vacationers stop spending money at local businesses that depend on seasonal income from visitors to the shore.
Thankfully there is hope!
Assembly Bill A-4520 and Senate Bill S-3133 have been introduced in the legislature. These bills call for a REAL “shore rental” exception to the current tax law. Both bills have been moved to committee, but it will take time and effort to keep them moving forward.
Please Join The Fight!
Visit www.NJShoreTax.com for weekly updates and instructions on how YOU can help us get the correction needed to exempt rentals at the shore!
Contributions are needed as well, please visit: https://www.gofundme.com/repeal-the-new-jersey-shore-tax to make your donation.