Relates to a rebate against real property taxes for certain owners of real property in the city of New York
Summary
Relates to a rebate against real property taxes for certain owners of real property in the city of New York for the fiscal year commencing July 1, 2024.
Bill status
in committee
1 of 4 stages cleared
Introduction
May 2025
Committee Review
Floor Vote
Governor
Introduced May 29, 2025
Last action Jan 7, 2026
Maddy AI version diff · 1 comparison
What changed between versions
S8280
→
S8280A
·
5 edits
MODERATE
This bill amends New York's real property tax rebate law to update the fiscal years and income thresholds for the program, shifting the rebate period from 2021-2022 to 2024-2025 and raising the income limit from $250,000 to $500,000. It also clarifies definitions for 'annual tax' and 'owner' to better cover cooperative housing and various ownership structures.
Scope change
The bill expands the program's applicability to a later fiscal year and broadens eligibility by increasing the income threshold and refining definitions to include more ownership types.
TIMELINE
Changed the rebate fiscal year from July 1, 2021 to June 30, 2022 to July 1, 2024 to June 30, 2025.
ELIGIBILITY
Increased the qualified gross income threshold for rebate eligibility from $250,000 to $500,000 for tax year 2023.
DEFINITION
Updated the definition of 'annual tax' to clarify how it is calculated for cooperative housing by dividing the total tax by the number of units.
Added a new definition for 'Owner' to explicitly include tenant-stockholders of cooperatives, life estate holders, and beneficial owners under trusts.
Modified the definition of 'Substantially higher' income to update the dollar amount from $200,000 to $275,000.
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
4
Key actions
2
Committee
2
Amendments
2
Jan 7, 2026
Committee
REFERRED TO CITIES 1
upper
Jun 11, 2025
Upper · Passed
PRINT NUMBER 8280A
upper
Jun 11, 2025
Upper · Passed
AMEND AND RECOMMIT TO CITIES 1
upper
May 29, 2025
Committee
REFERRED TO CITIES 1
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Luis Sepúlveda
DDemocratic
Ask Maddy
·
AI policy assistant
Ask Maddy about S 8280
Scope: NY
Hi! I can help you understand S 8280. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline