Bill > A03124

This bill modifies property tax regulations for cooperative corporations and condominiums in six specific towns in Warren County (Bolton, Horicon, Thurman, Queensbury, Lake George, and Warrensburg). The bill allows these towns to adopt local laws that exempt cooperative and condominium properties from certain existing tax provisions, but with important restrictions. Specifically, properties that were previously subject to these tax provisions before January 1, 2026, will not be exempt, and properties participating in affordable housing tax credit programs or with regulatory agreements related to affordable housing will also remain subject to the original tax rules. The changes apply to assessment rolls prepared with taxable status dates on or after January 1, 2026, and the act takes effect immediately. In essence, the bill provides local municipalities in these towns more flexibility in how they tax cooperative and condominium properties while maintaining protections for affordable housing initiatives.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A3124