Bill > S06470

This bill amends the real property tax law to modify the process for redetermining tax abatements for rent-controlled and rent-regulated properties occupied by senior citizens or persons with disabilities. Currently, if the combined household income changes by more than 20% from the last approved application, the head of household can apply for a redetermination of their tax abatement. The bill removes the phrase "after the effective date of this paragraph" and adds language allowing the city rent agency to also initiate a redetermination. The bill maintains existing provisions that the adjusted rent (maximum rent minus the tax abatement amount) cannot be less than one-third of the household's combined income for those not receiving a monthly shelter allowance, or less than the maximum shelter allowance for those receiving such assistance. The purpose of this bill is to provide more flexibility in adjusting tax abatements when household income significantly changes, either through homeowner application or proactive review by the city rent agency, ensuring that rent remains affordable for seniors and people with disabilities.

Health and Social Services

https://www.nysenate.gov/legislation/bills/2025/S6470