Budget & Taxes (Tax Incentives)

in committee · New York · Senate Jan 7, 2026

S 121: Increases the amount of income property owners may earn for the purpose of eligibility for the property tax exemption for persons over sixty-five years of age

Increases the amount of income property owners may earn for the purpose of eligibility for the property tax exemption for persons over sixty-five years of age; increases such amount to $75,000.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases property tax exemption threshold for seniors, providing tax relief to lower-income elderly homeowners by raising income limit to $75,000.95% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 4704: Grants a $100,000 real property tax exemption to conservation clubs and rod and gun clubs owning certain land having an assessed value of $500,000 or less

Grants a $100,000 real property tax exemption to conservation clubs and rod and gun clubs owning land acquired prior to January 1, 2025, having an assessed value of $500,000 or less.

Topics ✓ Budget & TaxesSupports Budget & TaxesGrants tax exemption, reducing tax burden for qualifying clubs, aligning with tax relief indicator for Budget & Taxes.90% confidence ✓ EnvironmentSupports EnvironmentTax exemption directly supports conservation clubs' land preservation, aligning with environmental protection goals through financial incentives for land conservation.85% confidence

Sub-Topics Property Tax Tax Incentives Conservation

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died · New York · Assembly Jun 5, 2026

A 7884: Authorizes the town of Smithtown assessor to accept an application for a real property tax exemption from Tiegerman Community Services, Inc.

Authorizes the town of Smithtown assessor to accept an application for a real property tax exemption from Tiegerman Community Services, Inc. for the 2023-2024 assessment rolls.

Topics ✓ Budget & TaxesSupports Budget & TaxesAuthorizes tax exemption for nonprofit property, reducing tax burden and supporting community services through fiscal relief.95% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Assembly Jun 17, 2025

A 74: Establishes a real property tax exemption for veterans with a 100 percent service connected disability

This bill creates a property tax exemption for the primary residence of New York veterans with a 100% service-connected disability. To qualify, veterans must have an honorable discharge, a VA/DoD rating of 100% disability due to military service, or be rated individually unemployable due to service-related conditions. The exemption covers all real property taxes, special district charges, and assessments on their primary home. The law takes effect for tax assessments starting January 2, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax exemption for veterans with disabilities, reducing their property tax burden as targeted tax relief for lower-income group, aligning with fiscal support indicators.95% confidence ✓ VeteransSupports VeteransBill provides tax exemption for veterans with 100% service-connected disability, directly expanding financial benefits and reducing housing costs for eligible veterans.95% confidence

Sub-Topics Property Tax Tax Incentives Veteran Healthcare Veteran Housing

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signed · New York · Assembly Jun 26, 2025

A 8676: Relates to relocation and employment assistance credits

This bill creates tax credits for businesses relocating to New York City (population over 1 million) from outside New York State. It requires qualifying businesses to maintain a minimum number of employee work hours at eligible locations (10,000+ square feet in NYC) and obtain annual city certifications from the mayor or designated agencies. Businesses must document eligibility, including proof of relocation after July 2025 and meeting specific employment thresholds, with new applications barred after July 1, 2028. The policy directly affects businesses moving operations to NYC, offering tax relief tied to sustained local employment.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credits for qualifying businesses relocating to NYC, providing direct tax relief under Budget & Taxes policy.95% confidence

Sub-Topics Tax Incentives

in committee · New York · Senate Jan 8, 2025

S 858: Extends the duration of certain brownfield redevelopment and remediation tax credits for certain sites

Extends the duration of certain brownfield redevelopment and remediation tax credits with respect to a site located within the Renaissance Commerce Park situate within the city of Lackawanna, Erie county.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends tax credits for brownfield redevelopment, providing tax relief for site remediation and redevelopment projects, aligning with tax incentive support.90% confidence

Sub-Topics Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 6470: Relates to redetermination based on income for a tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities

Relates to redetermination based on increases in income for a tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill adjusts tax abatement eligibility for seniors/disabled based on income, ensuring targeted tax relief for lower-income residents per fiscal management principles.95% confidence ✓ HousingSupports HousingBill ensures tax abatement for rent-controlled properties occupied by low-income seniors/disabled is adjusted upon income increases, maintaining affordability for intended beneficiaries.90% confidence

Sub-Topics Tax Incentives Property Taxes Renters

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in committee · New York · Assembly Jan 7, 2026

A 2241: Grants a sales and compensating use tax exemption for the sale of items designed to ensure the safe handling and storage of firearms

Grants a sales and compensating use tax exemption for the sale of items designed to ensure the safe handling and storage of firearms including safe storage depositories, firearm safety locks and trigger locks.

Topics ✓ Budget & TaxesSupports Budget & TaxesGrants tax exemption for firearm safety items, providing tax relief per topic indicators.90% confidence

Sub-Topics Sales Tax Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 230: Relates to tax abatement for rent-controlled and rent regulated property occupied by and real property owned by senior citizens or persons with disabilities

Relates to tax abatement for rent-controlled and rent regulated property occupied by and real property owned by senior citizens or persons with disabilities.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax abatement (reduced taxes) for seniors/disabled on rent-controlled properties, offering tax relief to lower-income groups.95% confidence ✓ HousingSupports HousingTax abatement for rent-controlled properties occupied by seniors/disabled preserves affordable housing and tenant protections, directly supporting vulnerable populations in existing housing stock.95% confidence

Sub-Topics Tax Incentives Property Taxes Renters

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in committee · New York · Senate Jan 7, 2026

S 3229: Allows the immediate family of a member of the armed forces killed in active duty to qualify for the alternate veterans exception

This bill (S 3229) expands a property tax exemption for veterans' families by allowing immediate family members (parents, spouses, children, or siblings) of service members killed in active duty during wartime to qualify for the "Gold Star Family" tax exemption. It requires local governments (counties, cities, towns, villages, or school districts) to adopt specific local laws to include these family members as "qualified owners" of their primary residence. The exemption applies only to the family member’s primary home, not other properties, and does not affect existing additional exemptions. This change directly impacts families who lost loved ones in military service, providing potential property tax relief for their main residence.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands property tax exemption for Gold Star families, providing tax relief to qualifying veterans' families through reduced local government tax revenue.90% confidence ✓ VeteransSupports VeteransExpands property tax exemption for Gold Star families, directly enhancing veteran-related benefits by including immediate family members in existing tax relief.95% confidence

Sub-Topics Property Tax Tax Incentives

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