Report: Santa Fe losing millions due to short term renting

New Mexico

SANTA FE, N.M. (KRQE)- Santa Fe may be missing out on millions of dollars because of short term rentals. A Homewise Inc. study found the city is losing out on $3.8 million in lodger and gross receipts taxes annually.

It says hosts from apps like Airbnb aren’t following the city’s ordinances and they city should do more to enforce laws. The report also says the number of short term rentals skyrocketed from 300 in 2015 to 1,400 in 2018.

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