Bill > A07569

This bill provides a property tax exemption for residential properties in Suffolk County that have accessory dwelling units (ADUs) rented to low-income households, with specific eligibility requirements. The exemption applies to properties where the owner lives in the primary building and the ADUs meet certain conditions: they must represent no more than 30% of the property's total assessed value, be rented to households earning at or below 80% of the area median income, and have monthly rents calculated based on a specific formula using area median income. The property owner must also have an income at or below 120% of the area median income. Qualifying properties will receive a 15% tax exemption, which increases to 20% if the ADU tenant is a firefighter, emergency medical technician, or paramedic. Property owners must provide documentation to the Division of Housing and Community Renewal to verify eligibility, and the exemption will remain in effect as long as the property continues to meet the specified conditions. The bill aims to incentivize the creation of affordable housing units by offering tax benefits to property owners who provide housing for low-income households in Suffolk County.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A7569