What are your Opinions on Virginia's New Tax Collection?

[Yna P.]

Hi fellow pocketeers,

I'm writing about Virginia's recent tax & remittance law and would like to learn about your thoughts: https://news.airbnb.com/suppor...

Will this affect tourists' preferences due to the taxes? Thanks!

[Natalia Barriuso]

Hello Yna, I think this is a way to make the short term rental business model recognized as an asset to this communities. Airbnb has already been collecting the taxes so, there is no change there, just the recognition from the local government that this is a good thing for them. I think it is a move in the positive direction for short term rental owners.

[John Underwood]

Quote from @Natalia Barriuso:
Hello Yna, I think this is a way to make the short term rental business model recognized as an asset to this communities. Airbnb has already been collecting the taxes so, there is no change there, just the recognition from the local government that this is a good thing for them. I think it is a move in the positive direction for short term rental owners.

 I agree.

The government is embracing STR'S and taxing them. This would be a good area to own a STR.

[Chase Hoover]

Love it! Those of us who have been playing by the rules and supporting our local municipalities benefit with less paperwork each month. Those who have been skirting by and not paying their taxes will now have to pay their fair share whether they like it or not, providing more tax revenue for marketing efforts to further drive tourism. Here in the Shenandoah Valley, most jurisdictions are very STR-friendly as tourism is a key driver of our economy, and this agreement with the Commonwealth of Virginia has now solidified that even further.

[Michael Baum]

Any time a county or state moves to something like this I think it bodes well. It means that they are moving to normalizing STR's in communities.

[Kingsley Thomas]

Page county is going to see a lot more money coming in.  The numbers will be big.  Should be interesting.  I'm really glad because doing the math on my properties each month was a big pain.  And Page county wouldn't accept my online checking account for payment; so I was always paying credit card fees for this.  Good stuff.

[William Arrington]

I think its a good thing and I know there are a few people around my STR's that have been skirting this in a few ways so it balances the playing field.

[Yna P.]

Thank you all for your insights!