If a Malibu vacation home was on your list of must-visits or you own a property in this glitzy zip code, be forewarned: Renting and owning could hit you deeper in the pocket.
That’s because as of July 1, Malibu property owners will have to pay a 12 percent transient occupancy tax for vacationers who stay less than 30 days, as reported by the Los Angeles Times. Will it affect those of us who “summer” in the playground of the papparrazzi?
90623 landlords: Here’s your chance to sound off. Will you be raising prices to offset the tax burden?
And luxury vacation home renters: to Malibu or not to Malibu this year?