Q&A
Discussion on the impact of ADUs on property values and taxes
5:00:25
·
70 sec
Council Member Narcisse inquires about the impact of Accessory Dwelling Units (ADUs) on property values and taxes, with Director Garodnick providing insights on potential effects and considerations for homeowners.
- Garodnick explains that adding an ADU is optional for homeowners and should be based on their assessment of potential benefits.
- He notes that adding an ADU might increase the assessed value of a property, but the specific amount would vary across neighborhoods.
- The director emphasizes that the potential increase in assessed value should be part of a homeowner's calculation when deciding whether to add an ADU.
Mercedes Narcisse
5:00:25
Okay.
5:00:26
How will private values and private tax be impacted specifically for ADUs or will adding an ADU increase or decrease your assessed property value somewhere at red that it's gonna increase slight Can you define slightly for me in that?
Daniel Garodnick
5:00:46
So I here's what I can tell you.
5:00:48
We we've talked to our partner agencies about this and what the the right to an ADU would do and an actual ADU would do.
5:00:57
Obviously, nobody is required to add an ADU unless they see it something that is advantageous to them as a homeowner, and they see it as something that will benefit them.
5:01:06
To the extent that somebody does add an ADU that might increase their assessed value.
5:01:13
By a level that I cannot sit here and tell you specifically how much that would be.
5:01:16
I would expect that it would change across various neighborhoods of New York City, but that could increase your assessed valuation.
5:01:23
But that would be a calculation for a homeowner to make when deciding whether or not.
5:01:28
It makes sense for them to actually add an ADU.
5:01:31
So that's an important point, but one that it will be part of the calculus for any one homeowner.
