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Short-term rentals (STRs), commonly referred to as "vacation rentals," are legally regulated in Lyden, New Mexico. The local environment thrives primarily in rural settings, where properties such as cabins or homes are popular among both tourists and business travelers. The state's burgeoning tourism industry, which attracted over 37 million visitors in 2018, significantly influences the market, with a noticeable demand for unique transient accommodations that enhance visitors' experiences of New Mexico’s rich cultural backdrop. STR operators must adhere to various regulations, including obtaining permits and paying taxes such as the Lodgers' Tax, which ranges from 5% to 7% based on locality. The relevant governing authority overseeing these regulations is the New Mexico Taxation and Revenue Department. For further details on regulations, visit the state’s official tax website at <UrlSource url="https://www.tax.newmexico.gov/"></UrlSource>.
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