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The following information is being provided to clear up any confusion over the upcoming tax change regarding Residential Rentals. Residential Rental tax will continue to be a taxable activity through 12/31/2024. The City of Prescott tax rate for Residential Rental (business code 045) is 2% All owners of Residential Rental properties will continue to file their returns on the regular due dates as required for the 2023 calendar year. There will be no change to the tax on Vacation rentals or Hotel, ‘short-term’ rentals less than 30 days. The City Transaction Privilege Tax (TPT) as well as the State TPT...

For the written story, read here >> https://www.signalsaz.com/articles/prescotts-upcoming-change-to-residential-rental-tax/

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