BY AMANDA CUTSHALL
The impact
The timeline
Data from STR data site Rabbu shows that Bas- trop STR owners generate more money annually than those in surrounding areas, highlighting the city’s attractiveness for STRs—which can increase HOT funds and sales tax revenue, said Ashton LaFuente, Visit Bastrop director of marketing. Since 2015, STRs have been required to contrib- ute to HOT funds, which Andres said supports assets such as the Bastrop Visitor Center, Bastrop Opera House and Kerr Community Center. LaFuente said 35% of Visit Bastrop’s HOT funds go toward tourism-related events and meetings, which bring overnight visitors and boost sales tax revenue, which benets everyone. While the exact increase in HOT funds from registered STRs is still uncertain, as Bastrop is in the process of collecting data, Gallagher said the overall economic impact is expected to be noticed based on projections.
Annual STR revenue in 2023
Bastrop Public Information Ocer Colin Guerra said no STR owners had registered since the ordinance was enacted as of press time; however, existing owners had until April 26 to comply. STR owners with more than one property must ll out a separate application for each structure on the property. New owners must register within 60 days of opening, according to the ordinance. STR registration will expire after one year or when ownership of the property changes. Under the ordinance, violations can result in nes of up to $500, as determined by a judge.
Smithville $25,700 $16,500 Elgin $16,200 Cedar Creek $27,100 Bastrop
Short-term rental HOT funds Registered STRs will pay 13.75% of the revenue to hotel occupancy tax split between the city, county and state.
City 7%
State 6%
County 0.75%
SOURCES: CITY OF BASTROP, AIRBTICSCOMMUNITY IMPACT
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Providing water for homes, farms, ranches and businesses in Bastrop County and adjacent counties since 1970.
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BASTROP CEDAR CREEK EDITION
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