06/18/2024
***IMPORTANT INFO FOR GALVESTON COUNTY INVESTORS ***
Galveston Central Appraisal district begins treating vacation rentals as businesses
The Galveston Central Appraisal District for the first time ever is treating short-term rentals as businesses by calculating the value of furnishings and equipment under their roofs.
The appraisal district added furnishings and equipment to appraisal calculations on rentals this year because failing to do so in the past created an uneven playing field in the real estate market, Chief Appraiser Krystal McKinney said.
“Because they are income-producing properties they have to render as personal business property.
“So, that’s actually going to help out the property owners who are just living in Galveston and not renting out their homes.”
This appraisal method will help level the playing field and alleviate some of the tax burden on homeowner’s caused by the skyrocketing market values of short-term rentals, McKinney said.
Rental owners in counties that have levied the tax for years see a couple hundred dollars at most on their tax bills from the personal property tax, according to officials.
The appraisal district in May began mailing letters informing short-term-rental owners they’re responsible this year for paying a tax on any personal business property they use to earn income, officials
