With three weeks left in the summer tourist season Governor Phil Murphy finally signed legislation repealing the tax and surcharge of Jersey Shore short term summer rentals.
Monmouth County legislators Senator Declan O’Scanlon and Assemblywoman Serena DiMaso say Murphy’s action today is “too little, too late.”
“The Governor made the right call in repealing this short-term rental tax–and we acknowledge that–however it comes way too late,” said O’Scanlon. “We are in August at this point, summer is nearly over and most of the damage of this ill-conceived aspect of this tax has been done. The Governor and his policy folks need to recognize when something is emergent and do their homework up front, so they’re ready to take action the minute such bills land on his desk. This was a total failure of administrative planning and it likely, needlessly, cost the New Jersey economy millions of dollars.”
“While I applaud the Governor signing this bill, it’s been on his desk since June 27th, and it is now August 9th,” DiMaso continued. “Many families have already been deterred from renting down the shore, and the number who might do so in the next three weeks of summer surely cannot make up the amount of revenue lost this tourism season.”
“Tourism contributes $44 billion annually to the New Jersey economy, particularly tourism at the shore. Tying the hands of our local shore economies with this short-term rental tax was irresponsible and completely, easily avoidable. I praise the Governor for seeing the light on this issue, but that won’t bring back the millions that shore economies have lost this summer in potential revenue,” said O’Scanlon.
“I’m happy our voices were heard, it’s just unfortunate that the Governor didn’t elect to sign this repeal before he set off for his Italian vacation in July,” DiMaso concluded.
Short term rental activity on the Jersey Shore is purportedly off 30% so far this season,