Philadelphia Just Legalized (And Will Tax!) Airbnb

Not good. "Legalization" is becoming a synonym for tax and regulate. Airnb was doing just fine in Philadelphia without "legalization."

The Philadelphia city council unanimously passed a string of new regulations that legalize short-term rentals but will also tax them. The new regulations include zoning adjustments that make most rentals illegal in residential neighborhoods, as well as an 8% hotel tax, a 180-day cap per year, and a requirement for a city license for rentals lasting more than 30 days, reports Fortune.

So much for the freedom to do what you want with your own property.

-RW