Q&A
Potential ADU tax exemption and financial incentives
1:09:09
·
63 sec
Council Member Pierina Sanchez inquires about the potential for an ADU tax exemption and financial incentives, given that the state has allowed the city to create such an exemption. Deputy Commissioner Kim Darga provides a brief response on the matter.
- The state has authorized New York City to create an ADU tax exemption
- Implementation of an ADU tax exemption would require City Council authorization
- The administration is open to discussing the creation of an ADU tax exemption with the City Council
Pierina Sanchez
1:09:09
Thank you.
1:09:26
Okay.
1:09:27
With respect to cost and financial incentives, we've been, talking about the state has allowed the city to create an ADU tax exemption.
1:09:35
Is the city, in the process of creating 1?
1:09:38
And and if so, what is the timeline?
Kim Darga
1:09:41
So we would love to say it it would require city council authorization.
1:09:45
We'd be very open to having that conversation.
Pierina Sanchez
1:09:51
So, like, next.
1:09:52
Okay.
1:09:52
Sure.
Arthur Klock
1:09:55
Okay.
Pierina Sanchez
1:10:02
I'm looking through all my questions.
1:10:04
I think I'm near the end.
1:10:06
Shocking.
1:10:07
I know.
1:10:11
Okay.
1:10:11
One one last question on on affordability, or just rent levels.
