Budget & Taxes (Property Tax)

in committee · New York · Assembly Jan 7, 2026

A 7494: Relates to real property tax lien transfers; repealer

Establishes provisions for real property tax lien transfers to assist homeowners facing foreclosure based on unpaid taxes; repeals existing provisions relating to acceptance of taxes from certain loan corporations.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief for homeowners facing foreclosure due to unpaid taxes, aligning with tax relief indicators for lower/middle income.85% confidence ✓ HousingSupports HousingPrevents foreclosure for homeowners with unpaid taxes, protecting housing stability and property rights per bill's purpose to assist homeowners facing tax-related foreclosure.95% confidence

Sub-Topics Property Tax Mortgages Property Taxes

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in committee · New York · Senate Jan 7, 2026

S 1392: Requires the state to reimburse municipalities for loss of real property tax revenue resulting from establishment of community residential facilities

Requires the state to reimburse municipalities for loss of real property tax revenue resulting from the establishment of community residential facilities for the disabled.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill mandates state reimbursement for municipal tax revenue loss, increasing state spending to offset budget impacts from disabled facilities, aligning with fiscal responsibility and funding support.95% confidence ✓ HousingSupports HousingReimburses municipalities for lost taxes on disabled housing facilities, removing financial barriers to development of housing for vulnerable populations.90% confidence

Sub-Topics Property Tax Revenue Property Taxes

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in committee · New York · Assembly Feb 25, 2026

A 1193: Provides tax abatement related to the removal of leaded paint

This bill provides property tax relief to owners of residential rental buildings (with three or more units) that permanently remove lead-based paint hazards. Owners can receive a tax abatement equal to the cost of certified lead paint remediation, paid over up to two years, subject to city-established limits. To qualify, the work must be performed by EPA-certified firms, completed after a city adopts a local law for this purpose, and the building must have no delinquent taxes. The tax relief applies only once per building and excludes temporary fixes or routine renovations.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax relief for lead paint remediation, reducing tax burden on qualifying rental property owners through abatement.95% confidence ✓ EnvironmentSupports EnvironmentBill removes lead paint hazards (a pollutant) via tax abatement, reducing environmental contamination. Directly advances pollution control under environmental protection.90% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 4419: Relates to the formula for the real property tax cap

This bill amends the formula used by New York local governments and school districts to calculate their annual property tax levy limits. It revises the calculation steps to include factors like the highest past tax levy, tax base growth, payments in lieu of taxes, and allowable growth multipliers, while adjusting for specific prior-year expenditures. The changes directly affect all cities, towns, villages, and school districts that must adhere to the state's property tax cap. The bill is currently referred to the Local Governments committee and takes effect immediately upon enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill revises tax cap formula to include tax base growth, enabling higher levies when tax base expands, supporting local government funding needs.85% confidence

Sub-Topics Property Tax

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in committee · New York · Senate Jan 7, 2026

S 619: Relates to limitations on assessed value for any parcel that is held in cooperative or condominium forms of ownership

This bill extends the transition period for property tax assessments on co-op and condo properties from a shorter timeframe to twelve years when an assessment increase occurs. It phases in higher assessments gradually: each year, a specific percentage (starting at 8.33% in year one and increasing to 100% in year twelve) is added to the previous year’s assessment. This prevents sudden tax spikes for owners of these properties during the transition. If the phased assessment exceeds the actual current assessment in any year, taxes are calculated based on the lower actual amount instead. The change applies to assessments for properties with increased values after the law takes effect.

Topics ✓ Budget & TaxesSupports Budget & TaxesPhases in property tax increases over 12 years to prevent sudden spikes, providing tax relief for co-op/condo owners and promoting fiscal predictability in assessments.95% confidence ✓ HousingSupports HousingBill prevents sudden tax spikes for co-op/condo owners via 12-year phased assessment, supporting housing stability and affordability for existing residents in these properties.80% confidence

Sub-Topics Property Tax Property Taxes

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in committee · New York · Assembly Jan 7, 2026

A 7550: Relates to real property tax exemptions for preservation of forest lands and state assistance to municipalities

Authorizes state assistance to municipalities containing exempt privately owned forest lands; expands categories of lands eligible for certain property tax exemptions as forest lands; authorizes tax exemptions for certain conservation easement tracts; provides for violations of certain provisions relating to filing for tax exemptions of forest lands.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands property tax exemptions for forest lands, providing tax relief to landowners while authorizing state assistance to municipalities. Aligns with tax relief indicators.92% confidence ✓ EnvironmentSupports EnvironmentExpands tax exemptions for forest land preservation and conservation easements, directly supporting environmental conservation through property tax incentives.95% confidence

Sub-Topics Property Tax Conservation Forestry

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in committee · New York · Senate Jan 7, 2026

S 458: Relates to certain real property tax exemptions for fire districts, fire protection districts and ambulance districts

Eliminates the real property tax exemption for fire districts, fire protection districts and ambulance districts developed through industrial development agencies in certain counties.

Topics ✓ Budget & TaxesSupports Budget & TaxesEliminates tax exemptions for fire/ambulance districts, increasing state revenue by closing a tax loophole per bill summary.95% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 7479: Enacts the "homebuyer renovation property tax exemption act"

Enacts the "homebuyer renovation property tax exemption act" to grant an exemption of up to fifteen thousand dollars from taxation levied by or on behalf of any county, city, town, village or school district in which such residential property is located for a period of five years from the date of purchase of the property; defines "primary residential property".

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides $15k property tax exemption for homebuyers, reducing tax burden and aligning with tax relief support indicator for primary residences.95% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Assembly Jan 7, 2026

A 288: Relates to the volunteer firefighters' and ambulance workers' credit; repealer

Repeals the provision of law that volunteer firefighters and ambulance workers who receive a real property tax exemption for service may not receive the income tax credit for such service.

Topics ✓ Budget & TaxesSupports Budget & TaxesRepeals restriction preventing volunteer workers from claiming income tax credit, providing tax relief for eligible individuals.95% confidence

Sub-Topics Income Tax Property Tax Tax Credits

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in committee · New York · Senate Jan 7, 2026

S 4652: Adjusts the school tax relief (STAR) exemption for homes located outside New York city (Part A); relates to a real property tax freeze (Part B); and relates to supplemental state assistance (Part C)

Adjusts the school tax relief (STAR) exemption for homes located outside a city with a population greater than one million for the 2025--2026 school years and thereafter (Part A); relates to a real property tax freeze to reimburse qualifying homeowners for increases in local property taxes on their primary residences (Part B); provides for supplemental state assistance to be paid to cities, counties, towns and villages that are compliant with the property tax levy limits (Part C).

Topics ✓ Budget & TaxesSupports Budget & TaxesAdjusts STAR exemption for non-NYC homes, implements property tax freeze with reimbursement, and provides supplemental aid to compliant localities - direct tax relief and fiscal management support.95% confidence

Sub-Topics Property Tax

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