Short Term Rental Information
Many property owners in Angel Fire wish to rent out their condominium or home when they are not enjoying a stay in Angel Fire. This is becoming more common with the advent of internet booking websites to assist in promoting your property. Here are a few rules and regulations for Angel Fire property owners, when renting your unit.
If you rent your condominium or home on a long-term basis (longer than 30 nights or with an extended contract with a renter) not all regulations will apply.
If you are using your condominium or home in Angel Fire for short-term rentals (rentals shorter than 30 nights each stay), you are required to have a New Mexico Gross Receipts Tax number and a Village of Angel Fire Business Registration. On each form, you must indicate that you are doing short-term rental of your condominium or home.
For more about New Mexico Gross Receipts Taxes, click here.
For more about the Village of Angel Fire Business Registration, click here.
Anyone using their condominium or home for short-term rentals is required to collect the New Mexico Gross Receipts Tax for the Angel Fire area, which is 7.7708%; Angel Fire Lodger’s Tax, which is 5% and the Angel Fire Sports & Recreation fee, which is 2.4%. These are to be collected on the gross rental charged for the unit to the person renting the unit and you must pass them on to the proper taxing authority (7.7708% to the State of New Mexico and 7.4% to the Village of Angel Fire).
You are required to report the taxes collected each month, by the 25th of the following month after the stay. If you did not have any rental stays, you must still report the $0 earnings and taxes collected. Failure to report will result in a fine and/or forfeiture of the opportunity to rent the unit.
If you use an internet booking website or a management company, they may collect all or part of the taxes for you. You are responsible to ensure all taxes are collected and paid to the appropriate authorities.