(La Porte County, IN) - More short-term rentals are popping up in La Porte County. As a result, officials want to find out how to calculate their property taxes properly.
La Porte County Assessor Mike Schultz says short-term rentals are being under billed from taxes determined by the same formula used for traditional rental homes.
However, Schultz said homes becoming short-term rentals have a higher assessed value now because they generate more revenue from the extra money weekly vacationers are willing to pay in rent.
The La Porte County Commissioners last night gave Schultz approval to start developing a model for assessing short-term rental homes. Schultz said the increase in short-term rentals has been noticeable in recent years throughout the county.