Hochul proposed a sales tax for short-term rentals in her executive budget plan, the Times Union reported. Her administration estimates the tax would generate $16 million in annual revenue for the state. The proposal would also undo the bungalow rule...
For Airbnb, it would also have the underlying benefit of protecting short-term rentals' place in the state at a time where some municipalities including those in New York City are making it more difficult for the company to operate.
This isn't the first time the state has tried to institute a sales tax on short-term rentals. Hochul had it in her first budget as governor, while predecessor Andrew Cuomo also had a similar rule in his 2021 executive budget. Neither made it to the finish line.
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