Tompkins County has experienced a noticeable drop in short-term rental availability, coinciding with new regulations in Ithaca that restrict corporate ownership and require owner occupancy. Despite this, occupancy rates and daily rental prices have remained stable.
County Tourism Director Nick Helmholdt attributed the decline to Ithaca’s 2024 ordinance, which likely pushed some short-term rental hosts to switch to long-term rentals or sell properties. Meanwhile, new state sales tax laws on rentals could generate $1.3 million for the county, though enforcement details remain unclear.
Officials are monitoring how platforms like Airbnb will handle tax collection, with concerns about compliance and reporting. The county expects more revenue but awaits final state guidance before assessing the full impact.
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