MIDLAND, Texas — Here in Midland, things could be changing for Airbnbs and VRBOs.
The council is looking to rewrite city language requiring these types of short-term stay residences to pay local hotel occupancy taxes.
Right now these rentals in Midland collect that tax from their customers solely for the state.
Councilman Trost thinks this would be a great new revenue source for the city.
"The hotels have to do it, the motels have to do it and in looking at that and researching that, I found that there are several hundred thousand dollars worth of potential taxes coming into the city," said Michael Trost, at-large city council seat.
Trost says he thinks there are about 300 or so short term rentals in the city to collect from.
These dollars could go a long way in Midland.
"We're eligible to do it. The funds are short in the city. I'm trying to find new sources of revenue for the city so that we don't have to raise property taxes," Trost said.
So where would this extra money go?
It'd be reinvested into our community.
"It funds organizations, mostly non-profit organizations that want to put on things, like the arts council and other non profits who want to get some help. This helps fund those. The larger that fund, the more we can do. The convention center here behind us is funded partially by hotel occupancy taxes," Trost said.
If these short-term rentals don't comply, they could be looking at a maximum fine of $500.
If approved, Trost says council plans to send this revised language on to the Texas Comptroller's office within the week.
He says he has a strong feeling this item will pass in council this week, but he says that money probably won't be available to the city before the end of the year.