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City plans retroactive $5 million TOT pay from STVR owners
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City plans retroactive $5 million TOT pay from STVR owners
by Laura Garber An estimated 180 to 250 Hermosa Beach property owners who operated unlicensed short term vacation rentals (STVRs) will be required to pay the city’s 14 percent Transient Occupancy Tax, going back four years, the city announced in a press release last week. The city’s estimated total for the unpaid STVR taxes is $5 million, or approximately $20,000 to $70,000 per property owner. Property owners will be required to pay the back ta…
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