Sarasota County Strikes Deal with Airbnb on Bed Tax Collections
Sarasota County recently reached an agreement with Airbnb that will allow the Sarasota County tax collector to begin reporting, collecting and remitting Tourist Development Tax money on short-term Airbnb rentals. Tax revenues on Airbnb rentals added up to approximately $355,000 in 2016, according to the company. A typical Sarasota County host earns $7,000 in annual income from renting out their home through the service. The new agreement goes into effect Monday, May 1. The Tourist Development Tax is a 5 percent charge on revenue from rentals of six months or less.