Bill > A01877

This bill expands property tax abatement provisions for rent-controlled and rent-regulated properties to include tenants who are paying maximum rent that exceeds half of their household's combined income, in addition to the existing protections for senior citizens and persons with disabilities. The bill modifies several sections of the real property tax law to broaden the definition of "head of household" and create new tax abatement calculations for tenants facing high rent burdens. Specifically, the legislation allows municipal corporations to adopt local laws providing tax abatements for dwelling units where the rent exceeds one-half of the household's total income, similar to existing provisions for rents exceeding one-third of income. As a form of financial support, the state will compensate participating cities by paying them an amount equal to 10% of the real property tax revenue lost due to these abatements. The bill is set to take effect on July 1, 2026, with some technical provisions regarding the timing of amendments to existing law. This legislation aims to provide financial relief for tenants in rent-regulated housing who are experiencing significant housing cost burdens relative to their income.

Health and Social Services

https://www.nysenate.gov/legislation/bills/2025/A1877