Hotel Occupancy Tax
Hotel owners, operators or managers must collect hotel occupancy tax from their guests who rent a room or space in a hotel costing $15 or more each day. The tax applies not only to hotels and motels, but also to bed and breakfasts, condominiums, apartments and houses. Local hotel taxes apply to sleeping rooms costing $2 or more each day.
With the numerous sporting and entertainment events and venues around the state, many homeowners rent their homes or rooms in their house to people attending these events. Persons leasing their houses must collect hotel occupancy tax from their customers in the same way a hotel or motel collects the tax from its guests. Property management companies, online travel companies and other third-party rental companies may collect and remit the tax for the owner, however most companies do not. It is the owner's responsibility to assure all taxes are reported and remitted.
Reporting Requirements
Each rental property is required to annually register their property with the Town of Lakewood Village. Currently there is no fee for registration, however, failure to register will result in a penalty as well as enforcement through municipal court.
On or before the last day of the month following each quarterly period, every person required to collect the tax imposed shall file a report with the Town Secretary showing each reservation, price paid for all room occupancies in the preceding quarter, the amount of tax collected on the Town's behalf on such occupancies, and any other information as the Town Secretary may reasonably require. At the end of each quarter, each hotel shall provide a copy of the quarterly report filed with the State Comptroller to the Town Secretary. Remittance of occupancy tax collected is due at the time of filing the report. Reports will be considered timely if submitted in person or postmarked by the due date. The report must be filed for every period, even if no amount is subject to tax or no tax due. Enter "0" if no receipts were collected for the reporting period.
On July 11, 2024 the Town Council adopted a new occupancy tax rate of 7% which will be applied to all collections beginning the July 1-September 30 quarter report.
Timelines for reporting:
Fiscal Quarter Quarter Dates Due Date
1 October 1 - December 31 January 31
2 January 1 - March 31 April 30
3 April 1 - June 30 July 31
4 July 1 - September 30 October 31