Budget & Taxes (Property Tax)

in committee · New York · Senate Jan 7, 2026

S 1630: Extends eligibility for the agricultural property tax credit to farmers having a leasehold interest of not fewer than five years in qualified agricultural property

Extends eligibility for the agricultural property tax credit to farmers having a leasehold interest of not fewer than five continuous years in qualified agricultural property.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends agricultural property tax credit eligibility, providing tax relief to qualifying farmers by reducing their tax liability.95% confidence

Sub-Topics Business Taxes Property Tax Tax Incentives

Track

in committee · New York · Senate Jan 7, 2026

S 241: Relates to excluding expenditures for school resource officers employed by a municipality and assigned to a school district from tax levy limitations

S 241 excludes costs for school resource officers (SROs) employed by a municipality but assigned to a school district from tax levy limits that restrict annual tax increases. This means school districts can cover these security personnel expenses without triggering the usual requirement for voter approval to raise taxes above the limit. The exemption applies only when the district complies with specific requirements under real property tax law. The bill directly affects school districts and municipalities managing school security funding.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts SRO costs from tax levy limits, enabling school districts to fund security without voter approval, supporting public safety funding under fiscal management.85% confidence ✓ EducationSupports EducationExempts school resource officer costs from tax limits, enabling districts to fund security personnel without voter approval, advancing school safety funding.90% confidence

Sub-Topics Property Tax School Safety

Track

in committee · New York · Senate Jan 7, 2026

S 7123: Relates to the reduction of taxes pursuant to shelter rent

This bill allows cities with a population over one million to reduce property taxes on qualifying affordable housing projects to zero percent. For other cities, it permits local governments to set taxes to zero percent upon approval. The tax exemption requires annual consent from the local legislative body, expires every ten years, and reverts to a minimum 10% tax rate if not renewed. It applies to projects financed through limited-profit housing programs and remains in effect as long as the project's mortgage loans are outstanding.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill reduces property taxes to zero percent for affordable housing projects, providing direct tax relief for qualifying developments targeting lower-income housing needs.95% confidence ✓ HousingSupports HousingBill provides tax exemptions for affordable housing projects, directly reducing costs to incentivize development and increase housing affordability.95% confidence

Sub-Topics Property Tax Tax Incentives Affordable Housing Property Taxes Tenant Rights

Track

in committee · New York · Senate Jan 7, 2026

S 5412: Establishes limitations upon real property tax levies in N.Y. city

This bill limits annual increases in property taxes for New York City (the only city in New York State with over 1 million residents). It sets a cap on how much the city can raise property taxes each year, based on either the inflation rate or a fixed 1.02% growth factor, whichever is lower. The cap allows cities to carry over unused tax room from previous years (up to 1.5% of the limit) and excludes certain capital projects and legal settlements from the calculation. The law takes effect for the 2026 fiscal year, requiring the state comptroller to calculate and notify the city of the annual tax levy limit.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill caps NYC property tax increases at inflation or 1.02%, restricting tax levies and limiting government revenue growth through annual tax hike restrictions.90% confidence

Sub-Topics Audits & Accountability Property Tax

Track

in committee · New York · Assembly Jan 7, 2026

A 7647: Directing the state board of real property tax services to conduct a study on real property tax saturation

This bill directs New York's State Board of Real Property Tax Services to study how high rates of tax-exempt property (like parks, nonprofits, or government buildings) impact local communities. The study must examine the percentage of tax-exempt property in each county, focusing on counties with the highest rates, and analyze effects on housing, small businesses, jobs, population, and park land over five years. It also requires the board to propose policy changes to reduce tax burdens on taxable properties and ensure fairer tax distribution. The board must submit a report to state leaders within one year, and the bill expires after two years or once the report is delivered.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill mandates study to analyze tax-exempt property impact and propose policies reducing tax burdens on taxable properties, aligning with tax relief indicators.90% confidence

Sub-Topics Property Tax

Track

failed · New York · Assembly Jan 7, 2026

A 3252: Requires the state pay taxes on the assessed value of properties of closed state prisons

Requires the state pay taxes on the assessed value of properties of closed state prisons until such prison is reopened, used by another state agency, or is conveyed to a non-governmental entity.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill requires state to pay property taxes on closed prisons, closing tax exemption loophole and promoting fiscal responsibility by ensuring state contributes to local tax revenue.95% confidence

Sub-Topics Property Tax

Track

passed · New York · Senate Jun 9, 2025

S 6166: Relates to delinquent tax interest rates

This bill sets a maximum 16% annual interest rate and a minimum 2% annual interest rate on late payments for residential property taxes, replacing higher local rates. It applies to residential properties including condos and co-ops, but excludes vacant and abandoned properties listed on a statewide registry. The interest rate will be tied to the prime rate (as defined by the commissioner), with the initial rate based on 2026 data and updated every five years. This limits how much interest homeowners can be charged on overdue residential tax bills, ensuring rates stay within the 2%-16% range.

Topics ✓ Budget & TaxesSupports Budget & TaxesCaps delinquent tax interest rates for residential properties, limiting penalties and providing relief to homeowners.95% confidence ✓ HousingSupports HousingCapping delinquent tax interest rates protects homeowners from excessive financial burden, supporting housing stability and property rights as part of affordable housing policy.85% confidence

Sub-Topics Property Tax Property Taxes

Track

in committee · New York · Senate Jan 7, 2026

S 2653: Requires the state pay taxes on the assessed value of properties of closed state prisons

Requires the state pay taxes on the assessed value of properties of closed state prisons until such prison is reopened, used by another state agency, or is conveyed to a non-governmental entity.

Topics ✓ Budget & TaxesSupports Budget & TaxesCloses tax loophole by requiring state to pay property taxes on closed prison properties, promoting fiscal responsibility.95% confidence

Sub-Topics Debt & Bonds Property Tax Sales Tax

Track

in committee · New York · Assembly Jan 7, 2026

A 7504: Enacts the "Affordable NY act"

This bill, the "Affordable NY Act," increases property tax relief for homeowners and adjusts New York's personal income tax rates. It directly affects homeowners who qualify for the STAR (School Tax Relief) program by doubling the base exemption amount for enhanced STAR from $30,000 to $60,000 (effective 2025-2026) and linking future increases to the Consumer Price Index. For income taxes, it revises tax brackets, lowering rates for middle-income earners (e.g., reducing the top rate for income over $161,550 from 6.57% to 6.49% in 2019). The changes take effect immediately for some provisions and for others starting in 2025. These adjustments aim to reduce tax burdens for qualifying homeowners and middle-income taxpayers.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases property tax relief for homeowners and lowers income tax rates for middle-income earners, providing direct tax relief per bill summary.95% confidence ✗ EducationOpposes EducationBill increases STAR exemption, reducing school tax revenue which defunds K-12 schools by lowering local property tax contributions to school districts.85% confidence

Sub-Topics Income Tax Property Tax Tax Incentives

Track

in committee · New York · Senate Jan 7, 2026

S 1764: Raises the income eligibility for senior citizens and disabled residents

This bill raises the income threshold for senior citizens (62+) and disabled residents to qualify for real property tax abatements. It increases the maximum allowable household income from $50,000 to $75,000 per year, effective July 1, 2025. The change directly affects seniors and disabled residents whose combined household income would previously have disqualified them from tax relief. The policy update modifies existing tax law provisions to adjust these eligibility limits annually. This is a concrete policy change to expand access to tax relief for low-to-moderate income households.

Topics ✓ Budget & TaxesSupports Budget & TaxesRaises income threshold for tax abatements, expanding eligibility for seniors/disabled residents, providing tax relief to lower/middle income households.95% confidence ✓ HousingSupports HousingRaises income threshold for tax abatements, expanding eligibility for seniors/disabled residents to access housing cost relief.95% confidence

Sub-Topics Property Tax Tax Incentives Property Taxes

Track