The Dive!

[TiltonBB]

Originally Posted by ishoot308

Interesting...so the pier does not have to answer to the city on how their property, dock space in this matter, gets rented out? Would the city not collect taxes on the revenue generated by the rental space?

Thanks for the info!

Dan

Correct. The city cannot tell them who they can rent to. The pier is privately owned and that is a decision of the owner.

No, the city does not have a tax specifically for "rental space". Of course, that rental income would be considered part of the value of the property and reflected in the assessment for real estate tax purposes.

I have commercial property and docks on the lake and the decision of who I rent to is totally up to me. The only tax I pay, other than real estate taxes on the property, is the income tax on the revenue generated by the rentals. That tax goes to the Federal Government, not to the state or the city. There is no city income tax. (This is not New York)