Are you thinking of purchasing an investment property that you would want to rent out nightly? As you know there are many expenses when owning an investment property.... property taxes, HOA, maintenance, utilities, etc. One expense that may be overlooked is that you owe sales and lodging tax.
If you rent out your property nightly (short term - for less than 30 days), you are required by law to collect the following taxes:
- Fraser, Granby, Grand Lake, Hot Sulphur Springs, and Kremmling: TOTAL TAX: 9.7%
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