LAGUNA BEACH, Calif.—The City of Laguna Beach is considering using some of the city’s tax revenue from short-term rental operations to create more affordable housing. City councilors unanimously agreed at the April 26 council meeting to continue exploring the idea of reallocating 12 percent of the city’s Transient Occupancy Tax collected from short-term rental units to a new affordable housing project. “Affordable housing is important to keep the diversity and fabric of Laguna Beach intact so that [living in the city] doesn’t become completely unaffordable,” Councilman George Weiss, who proposed the housing fund, told The Epoch Times. Based on the proposed plan, Laguna Beach would extract about a half-million dollars annually from the transient occupancy tax, which currently goes into the city’s General Fund. ...
Source: https://www.theepochtimes.com/laguna-be ... 41829.html
Laguna Beach Looks to Use Short-Term Rental Tax for Affordable Housing
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Laguna Beach Looks to Use Short-Term Rental Tax for Affordable Housing
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