Budget & Taxes (Property Tax)

in committee · New York · Senate Jan 7, 2026

S 5549: Prohibits exemptions for owners of vacant or unoccupied storefront properties

This bill prohibits property tax exemptions for owners of commercial storefronts that have been vacant or unoccupied for two years or longer. It directly affects commercial property owners who own ground-floor retail spaces used for selling goods or services but have not maintained regular business activity. The law defines "vacant" as having minimal objects present and "unoccupied" as lacking people regularly conducting business on the premises. The rule applies immediately to all tax assessments based on property status after the effective date.

Topics ✓ Budget & TaxesSupports Budget & TaxesCloses tax exemption loophole for vacant commercial properties, increasing tax revenue from underutilized spaces per bill's prohibition of exemptions.90% confidence

Sub-Topics Property Tax

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in committee · New York · Senate Jan 7, 2026

S 6132: Relates to the alternative veterans property tax exemption

This bill expands New York's property tax exemption for veterans to include active-duty military members. It defines "active military service" to cover full-time duty in all U.S. military branches (Army, Navy, Air Force, Coast Guard), allowing currently serving personnel to qualify. Local governments must adopt separate resolutions after public hearings to extend the exemption to these active-duty members, distinct from existing veteran exemptions. The changes apply to property tax assessments starting January 1 after the bill takes effect.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill expands property tax exemption for active-duty military, providing tax relief. Directly aligns with 'provides tax relief' indicator for tax policy.90% confidence ✓ VeteransSupports VeteransExpands property tax exemption to include active-duty military, extending benefits beyond traditional veterans per bill's explicit language.95% confidence

Sub-Topics Property Tax Tax Incentives National Guard & Reserve Veteran Benefits Veteran Education

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in committee · New York · Assembly Jan 7, 2026

A 5680: Relates to assessment and taxation of lessees and users of certain tax exempt property

Subjects to taxation the possessory interest of a private individual or corporation which uses real property owned by the United States or the state, except for real property owned by public authorities, for business purposes; excludes private property where the use is for a concession available to the general public located on property, such as parks, available for the use of the general public.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands tax base by taxing business use of previously exempt property, closing loopholes to increase state revenue for fiscal management.95% confidence

Sub-Topics Property Tax

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in committee · New York · Assembly Feb 27, 2026

A 8605: Authorizes the commissioner of taxation and finance to establish segment special equalization rates for certain school districts

Authorizes the commissioner of taxation and finance to establish segment special equalization rates starting in fiscal year 2026 for the Amityville Union Free School District and Farmingdale Union Free School District for the segments of the districts in the towns of Babylon and Oyster Bay.

Topics ✓ Budget & TaxesSupports Budget & TaxesAuthorizes tax equalization rates for school districts, ensuring fairer property tax burden distribution and promoting equitable fiscal management within state taxation framework.95% confidence

Sub-Topics Property Tax

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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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