Short Term Rental Taxes and Payments
STR Annual Renewal Cycle (April 2021)
Short Term Rental Renewal Portal
- STR license renewal period occurs annually from April 1- April 30 and the fee is $125.00.
- Per the STR Ordinance, all STR licenses are set to expire on April 30, 2021 and is not based upon when you applied or were approved.
- New during the 2021 renewal cycle, each STR Licensee will be required to upload a legible and complete statement showing rental activity including gross revenue and number of nightly stays; this is required for each of the Hosting Platforms you have used to generate bookings over the last twelve (12) months or 2020 calendar year. If you started your STR business within the last year and don’t have 12 months of rental activity, please upload rental activity for the numbers of months you do have.
- You can obtain this evidence for the major platforms such as VRBO, AirBnB, and Flipkey or your Property Management Company.
- Example Statement of Rental Activity
- STR Support Staff will use this documentation to review and compare to the payments remitted on each STR License to ensure tax remittance compliancy.
- To ease the renewal process, please make sure to be current on your tax filings. The 2% Frisco Sales Tax and the 2.35% Frisco Lodging Tax (4.35% total) should be remitted directly to the Town of Frisco through the online Host Compliance portal and are due by the 20th of every month.
- Changes cannot be made to the STR Registration during the renewal cycle. It is the duty of each short-term rental property licensee to ensure all information provided is kept up to date at all times, and it shall be unlawful for a licensee to fail to provide updated information to the Town within ten (10) days after the date upon which the information provided no longer accurate. You must email STR Support staff to request changes to your STR license.
- If you do not renew by the deadline, there is a 10-day grace period to renew, and then your STR license becomes “Expired”. You must reapply for a new STR license at that time if you wish to short-term rent.
- STR license application fee is $125.00. Please take note per the STR Ordinance, all STR Licenses expire on April 30th each year. Depending on when you apply, this could affect how many months your license is active before having to renew. The application fee is not prorated at this time.
Owners of a Short Term Rental (STR) in the Town of Frisco are required to remit all applicable taxes.
The total tax to be collected and remitted is 10.725%.
– 2.9% State of Colorado sales tax
– 2.0% Summit County sales tax
– 0.75% Summit County mass transit tax (Summit Stage)
– 0.725% Special District (Summit County Housing Authority) sales tax
– 2.0% Town of Frisco sales tax
– 2.35%Town of Frisco lodging tax
General Sales & Lodging Tax Requirements for Short Term Rentals
Short Term Rental Tax Remittance
The 2.0% Town of Frisco sales tax and 2.35% Town of Frisco lodging tax (4.35% total) must be remitted directly to the Town of Frisco. Town of Frisco sales tax and lodging tax are due by the 20th of every month.
All short term rental properties will file tax returns online using the Town of Frisco’s Host Compliance site. We will no longer accept paper returns or through Xpress Bill Pay.
Using a Vacation Rental Site Like VRBO?
Booking sites like VRBO and AirBnB do NOT collect Town of Frisco sales and lodging taxes automatically. To collect Town of Frisco tax from your guests, you will need to visit the support page for the booking site that you use to rent your unit and search for “additional payment request”.
State Taxes with Booking Sites
Booking sites such as VRBO and AirBnB are now collecting and remitting certain taxes on behalf of homeowners directly to the State of Colorado. These tax collections only cover the State, County and Special District Taxes for a total of 6.375%.
Short term rental owners are still required to individually collect and remit monthly 2% Town of Frisco Sales Tax and 2.35% Town of Frisco Lodging Tax (4.35% total) directly to the Town of Frisco using Host Compliance site.
Property Management Companies
Property Management Companies that typically manage properties that are owned by another party or entity, are required to have a Town of Frisco Business License and obtain an STR License for each property they manage in the Town of Frisco. Property Management Companies are required to collect and remit the 2.0% Frisco Sales Tax and 2.35% Lodging Tax to the Town (4.35% total) for each STR on a monthly basis (by the 20th) using the Host Compliance site.
Summit County Assessor
Colorado Statute requires anyone who owns a business or rents out their furnished residential property on a short or long term basis to declare their business equipment or residential rental furnishing/equipment.
Valuation of Personal Property
Valuation of Personal Property