3 Tips in 15 Minutes: 3 Steps to Increasing STR Tax Compliance
As short-term rental properties (STR) continue to grow in popularity, it’s clear that the impact on the tourism industry will be long-lasting and likely permanent. But despite the increased awareness of STRs in their communities, many city governments are ignoring or not taking full advantage of the tax revenue-generating opportunity STRs offer. Leveraging currently existing STRs and creating an effective tax compliance program that ensures new properties stay compliant can help stimulate a community’s economic growth in this time of recovery.
Matt Geiger, Executive Director of Tax Operations for Alachua County, FL, talks about how his team was able to build a next-level STR compliance program that not only helped increase tax revenue, but provided funding that helped fuel the city’s tourism development department.
“3 Tips in 15 Minutes: 3 Steps to Increasing STR Tax Compliance” offers helpful insights for those communities looking to engage with this potentially untapped market as well as those governments hoping to refine their existing programs.