Tax Classification Disclosure

April 22, 2019

Below is a disclosure statement written by Ashley Strauss-Martin and reviewed by Zach Cook regarding short term rental properties and the reclassification from residential to non-residential.  Both Ashley and Zach agree that the possibility of reclassification must be disclosed.

"NOTE TO BUYERS - INCREASE IN TAX RATE FOR VACATION RENTALS:

The Lincoln County Assessor is currently taxing properties used in whole or part as short-term or vacation rentals at the non-residential property rate. Tax rates for non-residential properties are generally higher than those for residential properties. If you are considering using this property

 

in whole or part as a short-term or vacation rental, you are advised to consult with your attorney, accountant and/or the Lincoln County Assessor's Office on the impact this use may have on the property tax assessment for this property."

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