Airbnb launches $10M initiative to show how taxing guests could benefit NY
Airbnb in New York launched its "A Fair Share" initiative on Wednesday, in which seven organizations that benefit from state taxes will see an extra economic boost.
Airbnb in New York is a bit in flux. While the home-sharing site is facing potential restrictions from New York City lawmakers, it could see a bill in its favor from state officials, and the company has launched a $10 million initiative to bring attention to the latter.
A bill in the New York State legislature would allow Airbnb to collect taxes from its guests, similar to how hotel rooms operate. This could mean $100 million annually in tax revenue for the state, per Airbnb.
To emphasize this benefit, Airbnb in New York launched its “A Fair Share” initiative on Wednesday. Through the $10 million effort, in which the home-sharing site will support seven community-based service organizations across the state, Airbnb hopes to show the impact of such tax revenue.
“We’ve spoken time and time again of the tax revenue and economic opportunity New York is leaving on the table without a pathway to statewide tax collection and remittance for home sharing platforms,” said Margaret Richardson, director of global Policy at Airbnb. “This initiative is proof positive of what harnessing the growth of home sharing can look like -- from providing computer science education to the next generation of New Yorkers to supporting the construction of affordable housing in both urban and rural communities, or any other priorities identified by state lawmakers.”
The seven organizations seeing a benefit from the “a Fair Share” initiative by Airbnb in New York are the New York Immigration Coalition, New York Mortgage Coalition, New York State Rural Housing Coalition Inc., Win, GMHC, CSNYC and Abyssinian Development Corporation.
These community providers — which shelter homeless women and children, provide computer science education to public school kids and offer legal services to immigrant families among other services — already benefit from city and state taxes.
But they could get a bigger boost from the state, the company argues.
Airbnb in New York has nearly 59,000 hosts who have housed 2.9 million guests across the state. The stimulus those organizations are getting from Airbnb could be a sign, the company says, of plenty more benefits to come if that tax revenue bill becomes law.