Sharks Are Chewing Up The Summer Rental Market On Cape Cod
Taxes are taking a bite out the Cape Cod beach rentals. According to cbsnews.com, Cape tourism is down nearly 30% in some areas and many are wondering if it's due to the recent spate of shark sightings or the hefty new taxes that started July 1 on short term rentals in the area.
The new tax, which historically was just on hotels and motels, was expanded to include home rentals like Airbnb and others. According to cbsnew.com Others blame the salacious reporting of Great White Sharks in the area. Since conservation efforts have successfully brought back the seal population and the Great White’s favorite meal, the sharks are the ones who have increased their visits to the Cape area. Maybe because there is great food and they don’t pay taxes.
The CBS News article details that real estate agent Jane Booth has said: “some repeat tenants call and say they weren’t returning because the sharks scared their children.” And yet all I hear when I go near children is that baby shark song. Be it taxes or sharks, no doubt something is taking a bite out of the shore season in the Cape Cod area.