If you own property in Gila County and are considering renting it out to vacationers, there are a number of things you need to know. Read on for information on the Coconino County Vacation Rental Owners Association and how the new Tax revenue generated from short-term rentals will affect the community. Additionally, we’ll discuss the rules and regulations for short-term rentals in Coconino County.
Impact of Senate Bill 1350 on Coconino County Vacation Rental Owners Association
The recent passing of the Arizona Senate Bill 1350 has sparked a large debate about the impacts of the new legislation on homeowners who rent their vacation properties. It provides a mechanism for collecting rental taxes while protecting the rights of homeowners to privately rent their properties. The new legislation is also expected to impact zoning regulations in many places, including Coconino and Yavapai counties.
The state legislature enacted a law limiting the number of short-term rentals in local communities. This legislation has prompted several attempts by local governments to regain control of short-term rentals and limit the number of vacation rentals in any one area. But Governor Doug Ducey has threatened to veto several measures. Mesnard’s bill is based on a very simple principle: to limit short-term rentals, counties need to regulate them.
Tax revenue generated by short-term rentals in Gila County
The average home value in Gila County is $157,600, compared to $209,600 for the state of Arizona and $204,900 nationally. Over the past decade, home values in Gila County have appreciated an average of 0.02 percent, compared to an average of 0.13 percent for the United States. Renters in Gila County typically pay a gross rental rate of $783 per month, which is lower than the statewide average of $909 and $1,023, respectively.
The growth of short-term rentals has created a new revenue stream for local governments. Last year, short-term rentals in Gila County generated $7 million in tax revenue and stimulated $84 million in economic activity. The industry has also created 972 jobs and has the potential to support a lot more. The growth of short-term rentals in Gila County is a boon to the community and will provide a stable source of revenue for the state for years to come.
Rules and regulations for short-term rentals in Coconino County
Beginning Nov. 19, Coconino County will begin regulating short-term vacation rentals. A resolution adopted by the Board of Supervisors set standards for short-term rentals, including occupancy limits, parking requirements, and provisions for enforcement of excessive noise. The county planning and zoning department worked for over a year to craft the ordinance. Several changes were made to the ordinance, but many remain unchanged.
The Arizona State Legislature enacted Senate Bill 1350, which seeks to protect residential property owners from short-term “vacation rentals.” The new law will significantly impact zoning ordinances in Coconino County and Yavapai County, as well as zoning restrictions in Flagstaff and Sedona. But for now, the state’s short-term rental laws are unenforced.