THE SELECT BOARD, FINANCE COMMITTEE AND THE ADVISORY COMMITTEE ALL VOTED TO NOT to adopt Article 90.
*After seeing the unanimous NO vote by the Finance Committee, ACK-Now is trying to amend Article 90 to “buy” town votes by eliminating the day-count limit for full time residents, and leaving the conditions as is against part-time residents, which has been criticized as highly prejudicial against part-time residents who pay 85% of residential property taxes. As more than 80% of short-term rentals are offered by part-time residents, the economic impact to the island would continue to be significant.
In summary, this would directly harm the 2,000 families who do short-term rentals as well as hit Nantucket’s principal industry, tourism, especially during the 9 month low season when the island is slow and most needs income. It also presents a risk to the Town of Nantucket’s finances, and would result in cuts to current planned services and improvements.
· Many of our supporters are previous islanders who moved off for a job, a marriage, or to care for a loved one. But they still return every summer and many hoped to retire on island. This article presented a threat to their ability to maintain their home.
· If you gave your home to your children & they ever need to move away for a period or time, this will restrict their ability to maintain income to support the home.
· This will hurt home values. Any time a city wide encumbrance or limitation is placed on real estate, it scares a certain percentage away to other destinations like Martha’s Vineyard, the Cape, the Hamptons.
ACK-Now is a small group of paid lobbyists whose Founding Board Member is Peter McCausland https://www.acknow.org/people/, a part-time resident of Florida who doesn’t need to rent his home. They have put forward Article 90 which would severely restrict a homeowner's right to rent their property. Some of the most harmful elements of Article 90…
The short-term rental restrictions proposed by Article 90 would be DEVASTATING to Nantucket according to the report commissioned by the Alliance to protect Nantucket’s Economy's
by The University of Massachusetts, Amherst, Donahue Institute. For the complete economic analysis published May 13th, 2021, click below:
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