SAN FRANCISCO—Airbnb will have to pay a steep price to continue offering short-term rental listings in San Francisco.
The San Francisco-based Internet company has reportedly made a multi-million dollar back taxes payment to the city of San Francisco. In a statement released on Wednesday, Airbnb said they have paid the full amount owed to the city.
The company will not publicly release the exact amount owed, however, several leaks have produced reports of the company paying as much as $25 million.
Per a local law protecting confidentiality on tax matters, the city treasurer is not at liberty to disclose the exact amount paid.
Airbnb has already been slammed with the city’s 14 percent hotel tax, a fee the company reluctantly paid in order to continue its San Francisco operations. Numerous public officials championed the restrictions placed upon the short-term rental company, citing public safety and housing stock as the chief concerns in Airbnb operations.
Airbnb faces growing scrutiny nationwide, including Los Angeles, where, in some areas, an outright ban rentals under 30 days has been proposed.