Provides for a partial exemption from taxation of certain residential real property transferred by a governmental entity, nonprofit housing organization, land bank or community land trust to low-income households; sets forth conditions for the discontinuance of such exemption.
This bill expands the residential redevelopment inhibited property exemption to all cities, towns, and villages in the state, removing a current restriction that limited it to one specific city. It allows any municipality to adopt local laws designating properties as "redevelopment inhibited" if they are neglected, abandoned, or have conditions (like long vacancy or zoning violations) preventing private redevelopment. Property owners in designated areas can then receive an exemption from taxes on the increased value of their property after redevelopment, provided they own a one- to four-unit residence, maintain owner-occupancy, and file annual residency affidavits. The exemption covers only the incremental tax increase from redevelopment, not the base property value, and requires compliance with building and zoning codes.
This bill extends tax exemptions for mutual redevelopment companies in cities with over one million residents. It allows local governments to grant an additional 50-year tax exemption period after the initial maximum period ends, provided the company pays at least 5% of annual rent (minus utilities) for residential units or the taxes paid in 2001 - whichever is lower. The exemption applies specifically to residential portions of redevelopment projects. This change directly affects mutual redevelopment companies operating in large cities like New York City, altering their long-term tax obligations.
Extends provisions allowing the county of Fulton to impose a county recording tax on obligation secured by a mortgage on real property to November 30, 2027.
This bill extends Columbia County's existing authority to collect an additional 1% sales and use tax for two more years, through November 30, 2027. It modifies the tax law to maintain the current 1% rate (added to the existing 3% rate) without changing the tax structure. The extension directly affects residents and businesses in Columbia County that pay these taxes. The bill does not alter the tax rate or create new taxes, only prolonging the current authority.
This bill extends Otsego County's existing authority to impose an additional tax on property deeds (mortgage recording tax) until December 31, 2027. It directly affects property buyers and sellers in Otsego County, as transactions involving property transfers will continue to incur this additional tax. The key provision modifies the expiration date of the county's tax authority from 2025 to 2027, ensuring the tax remains in place for two more years. The bill was signed into law on August 7, 2025, and is now effective.
S 6046 extends Steuben County's authorization to collect an additional 1% sales and use tax until November 30, 2027. This tax applies to all purchases within Steuben County, directly affecting residents and businesses that pay the tax. The bill specifies that revenue from this tax must be distributed annually to the cities of Hornell and Corning, plus towns and villages across the county, based on each area's property value relative to the total. The extension ensures existing tax revenue-sharing agreements with local governments remain in place through the 2027 deadline.
This bill extends Chautauqua County's authority to impose an additional 1% sales and use tax until November 30, 2027. It directly affects residents and businesses in Chautauqua County who pay sales taxes, as the county will continue collecting this tax during the extended period. The bill specifies that 3/20th of the tax revenue must be allocated to local municipalities based on population, while the remainder funds county Medicaid expenses, road projects, capital improvements, and debt repayment. This is a procedural extension of an existing tax authorization, not a new tax.
This bill extends Cayuga County's authority to collect an additional 1% sales tax (on top of existing rates) until November 30, 2027. The key change updates the expiration date in state tax law from 2025 to 2027, allowing the county to continue this tax without needing new legislation. It directly affects Cayuga County residents and businesses that pay sales tax within the county. The bill does not create new taxes or change tax rates - it only prolongs the existing authorization period.
Extends the mortgage recording tax for Chenango county; relates to the depositing of mortgage recording tax funds into the general fund of the county of Chenango.
