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Old 02-26-2023, 07:39 AM   #13
TiltonBB
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Quote:
Originally Posted by Heaven View Post
Yes, but far too many justify their STR by saying "I need to to pay my taxes" when in fact, it is the value of the 5500sf house they built instead of the 1500sf cottage they started with which is the true cause of their tax heartburn. If they can't afford the taxes, take on a couple of boarders, or sell the property.
That may be true in some situations but many people have different circumstances.

In some cases as people get older and retire their income is no longer what it was when they were working. They have a family home on the lake that has been enjoyed for generations but with the reality of rising maintenance costs and property taxes it has become difficult to stay ahead financially.

Maybe a health situation for them or a family member has drained them financially but they want to try to keep that home they have long planned to retire in and pass it on to the next generation.

I would not be that quick to tell people to sell their homes. I find that the longer people have been on the lake the more respect they have for it. Families that have been on the lake for decades train the next generation about boating rules and etiquette.

If a little rental income helps them maintain possession of their home I think that is a good thing. There are laws in place regarding noise, parking Etc. I would have no problem calling the police if a neighboring property became a nuisance.
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