Otsego county bed tax 2025

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  1. Click ‘Get Form’ to open the Otsego County Bed Tax Return in the editor.
  2. Begin by entering the name of your hotel or motel in the designated field, followed by your NYS Tax ID number if available.
  3. Fill in the name of the operator if it differs from the hotel/motel name, and provide your Certificate of Authority along with your street address and PO Box if applicable.
  4. Complete the contact information section, including the name, title, phone number, town/village, and zip code.
  5. Specify the period covered by this return by entering the start and end dates for the quarter.
  6. In the computation section, enter your gross income from room occupancy. Deduct any tax-exempt sales to find your net taxable income.
  7. Calculate 4% of your net taxable income for county occupancy tax due. Include any penalties or interest if applicable.
  8. Finally, review all entries for accuracy before signing and dating at the bottom of the form. Make payment payable to 'Otsego County Treasurer' and mail it as instructed.

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Below, you can compare Otsego Countys effective property tax rate to other counties in New York or the U.S. median property tax rate. Otsego Countys median property tax rate stands at 0.66%, which is docHubly lower than the national median property tax rate of 1.02%.
Occupancy tax, also known as hotel occupancy tax, bed tax, or transient occupancy tax, is a fee collected by local governments to offset the impact of tourism. Its typically reinvested into infrastructure, tourism promotion, and public services.
Bed tax revenue is commonly used by local governments to fund tourism-related initiatives, infrastructure projects, and destination marketing efforts aimed at attracting visitors to the area.
A bed tax refers to a fee collected by a city, county or other municipality for each night someone rents a room in a hotel, motel or other temporary lodging place. Common exceptions to this charge are for those staying on the premises more than 30 days or some employees of government agencies.
Otsego County currently maintains a sales and use rate tax of 8 percent4 percent being state tax and the other 4 percent being local. The additional 1 percent in this resolution is not being added onto existing taxes, but rather is an extension of those already in effect.

People also ask

WHAT IS THE BED TAX? The Transient Occupancy Tax (TOT) is a tax of 12% of the rent charged to transient guests in hotels/motels, including properties rented through home sharing services like Airbnb, located in the unincorporated areas of Los Angeles County. The TOT is commonly known as a bed tax. County Code.
The Lodging Facility Use Tax is 4% of room charges, and revenues are distributed to a variety of state special revenue funds, with a majority going to the Department of Commerce for tourism promotion.

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