A 1877

  • New York Assembly Bill
  • 2025 Regular Session
  • Introduced in Assembly
  • Assembly
  • Senate
  • Governor

Grants real property tax abatement to rent-controlled or rent regulated properties when the maximum authorized rent exceeds 1/2 of the tenants' household income

Abstract

Authorizes application of the property tax abatement for rent-controlled or rent regulated properties occupied by senior citizens or disabled persons, to those units occupied by tenants paying the maximum allowable rent when such rent exceeds 1/2 of the household income; provides for state payments to cities affected thereby equal to 10% of lost real property tax revenue.

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Jan 14, 2025

Assembly

REFERRED TO AGING

  • Referral-Committee
AGING

Bill Text

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