EL PASO COUNTY, Colo. - Changes in regulations for property owners who use their homes as short-term rentals or Airbnb have been in talks for several months now.
But now the El Paso County Assessor's office is also considering changing how those properties are handled by county and city officials.
Assessor Steve Schleiker isn't exactly on board, saying changes to how short-term rentals are assessed for tax purposes could bring on consequences.
He says the effect would be felt in insurance coverage, higher utility bills and property taxes, and problems with lenders and mortgages.
Airbnb properties would pay four times the amount of property taxes, in addition to higher utility rates and insurance rates.
Schleiker says the residential assessment rate is 7.15 percent of assessed value, while the non-residential or commercial assessment rate stands at 29 percent.
But he says if there are any changes, it will most likely be another year, if not more, before they went into effect because 2019 property assessments have already been mailed out.
He plans on going before the 2020 legislature to discuss regulations on short-term rentals while also discussing decreasing taxes bed and breakfast businesses face.