City of Plano to Benefit from Airbnb Tax Agreement

PLANO (WBAP/KLIF)- Airbnb announces a tax agreement with the city of Plano that will allow them to collect 7% and the revenue will go directly to the city. Starting may 1st, plano will fully benefit from people visiting the region and staying longer through home sharing. Ben Breit with Airbnb says it will help hosts because the company will do all the collections for them. This marks Airbnb’s second tax agreement in Texas, and the first with a Texas city. The company previously collaborated in 2017 with the Texas Comptroller’s Office on a historic tax partnership to collect and remit the
Texas state occupancy tax on all taxable bookings throughout the state. Airbnb
delivered $15.3 million in tax revenue to the state. Plano will now become the first Texas municipal government to take full economic advantage of tax revenue from Airbnb listings. “We believe this partnership will unlock significant new revenue for Plano moving forward, as it has for the state,” said Laura Spanjian, Airbnb’s senior policy director.
“In addition to this tax agreement, we are committed to using our platform to help bring family-friendly tourism and economic development to Plano and the entire DFW region.”