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What is an occupancy tax?

occupancy tax
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What is an occupancy tax?

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If you buy a home that no one has ever lived in and move into it after January 1, you will be charged an occupancy tax. You will pay the occupancy tax instead of property taxes for the portion of the year you live there.

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If you buy and occupy property after Jan. 1 that has not previously been occupied, you are required to pay the occupancy tax. The amount of the occupancy tax is the value of the building(s) prorated for the part of the year after first occupancy, multiplied by the property tax rate. Contact us if you need more information.

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