Budget & Taxes (Property Tax)

passed · New York · Senate Mar 5, 2026

S 3665: Expands the tax exemption for new farm buildings

S 3665 expands the real property tax exemption for new farm buildings. It includes structures used for the on-farm processing of agricultural and horticultural commodities. Additionally, the bill extends the exemption to cover buildings used for the on-farm sale of maple syrup, honey, and beeswax. This change benefits farmers and agricultural businesses by reducing their property tax burden on these specific types of structures. The act takes effect one year after becoming law, applying to assessment rolls prepared on

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands tax exemption for farm buildings, reducing property tax burden on agricultural structures, aligning with tax relief indicators for businesses.90% confidence

Sub-Topics Property Tax Tax Incentives

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died · New York · Senate Jan 7, 2026

S 6533: 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 (relief) for seniors/disabled renters, reducing their tax burden per bill title and summary.90% confidence ✓ HousingSupports HousingBill provides tax abatement for rent-controlled properties serving seniors/disabled, preserving affordable housing and protecting tenants.95% confidence

Sub-Topics Property Tax Tax Incentives Property Taxes Renters

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in committee · New York · Assembly Jan 7, 2026

A 3061: Relates to creating a tax abatement for geothermal well systems

This bill creates a real property tax break for owners of buildings with geothermal well systems installed between 2027 and 2029. It provides a tax abatement equal to 10% of eligible installation costs, capped at $62,500 per year for the compliance period (four years total), reducing annual property taxes. To qualify, applicants must submit certified proof from architects or engineers that the system meets building codes, and maintain the system without safety hazards during the compliance period. The tax break applies to residential, commercial, and condominium properties, but requires no outstanding property taxes or municipal charges during the eligibility period.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax abatement (10% property tax reduction) for geothermal systems, directly offering tax relief per Budget & Taxes topic indicators.95% confidence ✓ EnergySupports EnergyProvides tax incentives for geothermal systems, promoting renewable energy adoption and clean infrastructure investment.95% confidence ✓ EnvironmentSupports EnvironmentTax abatement incentivizes geothermal systems, a clean energy technology that reduces fossil fuel reliance and lowers emissions, directly promoting environmental protection.95% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 1635: Relates to the formula for the real property tax cap

This bill (S 1635) updates the calculation method for real property tax levy limits used by local governments and school districts in New York. It requires these entities to determine their annual tax cap by: (1) using the highest tax levy from the prior five years, (2) adjusting for tax base growth and payments in lieu of taxes, (3) subtracting specific prior-year expenditures, and (4) applying an allowable growth factor. The changes directly affect all cities, towns, villages, and school districts that set annual property tax rates. The bill modifies existing statutory formulas without altering tax rates or policy outcomes - only changing the procedural calculation method.

Topics ✓ Budget & TaxesSupports Budget & TaxesUpdates tax cap formula to promote fiscal responsibility in local budgeting by linking tax levies to growth metrics90% confidence

Sub-Topics Property Tax

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in committee · New York · Assembly Jan 7, 2026

A 3257: Relates to exempting the costs of BOCES services and programs from the real property tax levy limit

This bill (A 3257) exempts school districts' costs for purchasing BOCES (Boards of Cooperative Educational Services) programs and services from the state's real property tax levy cap. It directly affects school districts in New York that use BOCES for shared educational services like special education or technical training. The key provision adds a new exemption to the tax levy calculation, meaning these costs will no longer count toward the district's annual tax limit. This change simplifies budgeting for districts relying on BOCES, as they won't need to adjust other spending to stay within the tax cap when purchasing these services.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts BOCES costs from tax levy cap, preventing school districts from needing tax hikes to fund shared services. Provides fiscal relief for public education funding.95% confidence ✓ EducationSupports EducationExempts BOCES costs from tax levy cap, allowing school districts to fund shared educational services (e.g., special education) without hitting tax limits, increasing funding flexibility for K-12 programs.90% confidence

Sub-Topics Procurement Property Tax Career & Technical Education Special Education

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in committee · New York · Assembly Jan 7, 2026

A 515: Permits municipalities the local option of providing a tax exemption to National Guard members and reservists

This bill allows municipalities to offer a 5% real property tax exemption for primary residences owned by National Guard members or reservists. It defines "qualified owner" as active or retired military personnel and requires annual applications with military service verification. The exemption applies only to residential property used as a primary home (excluding non-residential portions) and cannot be combined with other military tax benefits. Municipalities must choose to adopt this option locally through their own ordinances.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax exemption for National Guard/reservists, reducing property tax burden for qualifying homeowners, aligning with tax relief indicators.90% confidence ✓ VeteransSupports VeteransProvides tax exemption for National Guard/reservists' primary homes, directly expanding financial benefits for veterans.90% confidence

Sub-Topics Property Tax Tax Incentives National Guard & Reserve

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in committee · New York · Senate Jan 7, 2026

S 7212: Authorizes cities having a population of one million or more to provide a rebate of a portion of the real property taxes on owner occupied residential real property

Authorizes cities having a population of one million or more to provide a rebate during a specified city fiscal year of a portion of the real property taxes on owner occupied 1, 2, 3, 4, 5 or 6 family residential real property, or residential real property held in the condominium or cooperative form of ownership.

Topics ✓ Budget & TaxesSupports Budget & TaxesAuthorizes property tax rebates for residential homeowners, providing direct tax relief aligning with middle-income support under Budget & Taxes policies.95% confidence ✓ HousingSupports HousingBill provides property tax rebates for homeowners, reducing costs and promoting housing affordability for owner-occupants in large cities.85% confidence

Sub-Topics Property Tax Tax Incentives Property Taxes

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in committee · New York · Senate Feb 3, 2026

S 4683: Allows the alteration or repeal of real property tax exemptions for certain private institutions of higher education

Allows the alteration or repeal of real property tax exemptions for certain private institutions of higher education by the passage of a private bill by the legislature and approval by the governor.

Topics ✓ Budget & TaxesSupports Budget & TaxesRepealing tax exemptions for private institutions increases state revenue by closing a tax loophole, aligning with fiscal responsibility and budget management.95% confidence

Sub-Topics Property Tax

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in committee · New York · Assembly Jan 7, 2026

A 4299: Establishes a real property tax exemption for widowed spouses of firefighters killed in the line of duty

This bill creates a property tax exemption for the primary residences of widowed spouses whose firefighter spouses died while on duty. It requires local governments to adopt a specific ordinance after a public hearing to implement the exemption for eligible properties. The exemption covers all local taxes (city, town, county) on the primary home, with eligibility verified using documents specified by the state fire administrator and tax office.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates property tax exemption for widowed firefighters' spouses, reducing their tax burden. This provides targeted tax relief to a vulnerable group, aligning with support indicators for tax relief.90% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · New York · Senate Jan 7, 2026

S 7091: Directs a city with a population of one million or more to reduce its real property tax levy

Directs a city with a population of one million or more to reduce its real property tax levy for the 2026 fiscal year by an amount not less than the real property tax increase authorized pursuant to local law 40 of the city of New York for the year 2002.

Topics ✓ Budget & TaxesSupports Budget & TaxesMandates tax levy reduction for property taxes, providing direct tax relief per bill's explicit language.95% confidence

Sub-Topics Property Tax

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