Ocean Township, NJ – With Memorial Day Weekend and the unofficial start of the summer season just weeks away, Legislative District 11 General Assembly candidates Mike Amoroso and Matt Woolley are pressuring Democratic leadership in Trenton to repeal the 11.625 percent sales and occupancy taxes on homeowners – largely in coastal communities – who directly rent their properties during the summer season.

“Governor Murphy and the Democrat-controlled legislature have risked jeopardizing our multi-billion dollar tourism industry by pushing another reckless tax on property owners,” said Woolley. “Monmouth County residents cannot afford to continue to lose business because current ‘leadership’ needs money to fund their irresponsible spending practices. Homeowners need additional income to offset the state’s high cost of living.”

According to a 2017 study by the state Division of Travel and Tourism, tourism is a $42.9 billion industry in New Jersey that generated over $10.5 billion dollars in tax revenue before sales and occupancy taxes on short-term rentals were implemented. Governor Murphy signed the 11.625 percent tax into law in July 2018.

“Murphy Democrats are blatantly taking advantage of successful homeowners by pushing additional taxes on short-term rentals,” continued Amoroso. “Before the new tax, more than a quarter of our state’s budget was generated by tourism alone. Now we are seeing the negative impact on Monmouth County residents and our state’s economy.”

Property owners who rent their homes to vacationers jolt local economies every summer, helping many businesses withstand the less active winter season. The 11.625 percent tax has already reduced estimated economic activity as travelers look for more affordable accommodations. Reports have found the additional tax has forced people to consider changing their vacation destinations, causing ripple effects through local economies along the shore.

###