JFC approves exemption to personal property tax, new regs on short-term rentals

The committee approved 12-4 along party lines a motion that includes a new exemption to the personal property tax with a price tag of $74.4 million annually.
The personal property tax provision would kick in Jan. 1, 2018, and exempt machinery, tools and patterns not considered manufacturing property.
The change was included in a motion on tax changes largely impacting local governments.
That includes allowing local governments to impose a tax on owners of short-term rentals, particularly those rented through Airbnb.
But locals also would be banned from prohibiting the rental of a residential d...

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