Nantucket’s Record-Breaking STR Tax Revenue
Skift Take
Nantucket's short-term rental occupancy tax revenue reached an all-time high this summer. Short-term rentals operating on the Massachusetts island during June, July, and August generated $4.8 million in taxes for the Nantucket Finance Department.
Nantucket's short-term rental occupancy tax revenue reached an all-time high this summer. Short-term rentals operating on the Massachusetts island during June, July, and August generated $4.8 million in taxes for the Nantucket Finance Department, according to data obtained by the Nantucket Current.
This marked a 10% increase compared to the same period in the previous year, representing the highest quarterly collection since the implementation of the state's short-term rental tax in 2019. In contrast, room occupancy taxes collected from traditional lodging establishments like inns and hotels declined 6.7% year over year to $2.2 million for the summer.
Taxes collected by the Town of Nantucket from Accommodations and Lodging.
Source: The Town of Nantucket Finance Department/The Nantucket Current
Officials attributed this surge in short-term rental tax reven
