Housing (Property Taxes)

in committee · New York · Senate Jan 7, 2026

S 4488: Exempts first-time homebuyers from the mortgage recording tax

This bill exempts first-time homebuyers from the mortgage recording tax on qualifying home purchases. It defines a "first-time homebuyer" as someone who hasn’t owned a primary residence in the past three years (and isn’t married to someone who has), and doesn’t own vacation or investment properties. The exemption applies only to mortgages for primary residences, removing a tax burden for eligible buyers. The law takes effect January 1 following its enactment, applying to mortgages signed on or after that date.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts first-time homebuyers from mortgage tax, providing tax relief for lower-income buyers per support indicators on tax relief.95% confidence ✓ HousingSupports HousingExempts first-time homebuyers from mortgage tax, reducing purchase costs for primary residences and increasing housing affordability.95% confidence

Sub-Topics Homeownership Mortgages Property Taxes

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in committee · New York · Assembly Jan 7, 2026

A 7527: Provides an alternative hardship allowance based on 8 1/2% of assessed value

Provides for an alternative hardship allowance for landlords in New York city rent controlled apartments which allows a hardship rent increase where a building's annual net income is less than 8.5 percent of the equalized assessed value.

Topics ✗ HousingOpposes HousingAllows hardship rent increases in rent-controlled buildings, weakening tenant protections by permitting higher rents when landlords' income is low.85% confidence

Sub-Topics Property Taxes Renters Tenant Rights

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in committee · New York · Senate Jan 7, 2026

S 4503: Expands eligibility for tax abatement for rent-controlled and rent regulated property occupied by persons with disabilities

Expands eligibility for tax abatement for rent-controlled and rent regulated property occupied by persons with disabilities to include individuals who do not meet the non-medical qualifications for SSDI and SSI but, by reason of the individual's disability, the individual is not able to engage in substantial gainful activity as that term is defined by the federal social security administration.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands tax abatement eligibility for properties housing disabled individuals, providing targeted tax relief to support affordable housing for vulnerable populations.95% confidence ✓ HousingSupports HousingExpands tax abatement for rent-regulated housing occupied by disabled tenants, strengthening tenant protections and affordability for a vulnerable group in existing regulated housing stock.95% confidence

Sub-Topics Tax Incentives Property Taxes Renters

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in committee · New York · Senate Jan 7, 2026

S 7925: Establishes a tax rebate program for rent-stabilized housing

Establishes a tax rebate program for rent-stabilized housing that targets buildings with individually occupied rent-stabilized apartments where the property tax burden significantly exceeds rental income.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax rebate program targeting rent-stabilized housing with excessive property tax burden, providing tax relief to lower-income housing properties per support indicators.90% confidence ✓ HousingSupports HousingBill creates tax rebates for rent-stabilized buildings to reduce property tax burden, supporting tenant protections and affordable housing maintenance.90% confidence

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

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in committee · New York · Assembly Jan 7, 2026

A 903: Provides a rent increase exemption to persons with disabilities

This bill modifies property tax abatement rules to provide exemptions for households with a person with a disability. It sets specific income limits: $50,000 for general disability status, $29,000 for those receiving Social Security Disability Insurance (SSDI) or medical assistance, and federal SSI income thresholds for others. Households exceeding these limits lose eligibility for tax abatements. Municipalities with existing qualifying policies can continue using them without new legislation. (Note: The bill addresses property tax abatements, not rent increases, as clarified in the text.)

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief for lower-income disability households via property tax abatement with income limits ($29k-$50k), aligning with tax relief indicators for middle/lower income.90% confidence ✓ HousingSupports HousingProvides tax abatement exemptions for disabled households, reducing housing costs and increasing affordability for a vulnerable group.95% confidence

Sub-Topics Property Tax Tax Incentives Property Taxes Renters Tags People with Disabilities

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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 · Senate Jan 7, 2026

S 5335: Enacts the "home mortgage bridge loan assistance act "

Enacts the "home mortgage bridge loan assistance act" to prevent avoidable home mortgage foreclosures by providing temporary bridge loan assistance; makes related provisions.

Topics ✓ HousingSupports HousingBill prevents foreclosures via bridge loans, protecting homeowners' property rights (a housing topic) by providing temporary financial assistance to avoid loss of housing.92% confidence

Sub-Topics Homeownership Mortgages Property Taxes

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in committee · New York · Senate Jan 7, 2026

S 880: Enacts the housing development fund company fairness, preservation, and affordability act

Enacts the housing development fund company fairness, preservation, and affordability act to clarify certain provisions relating to the dissolution and reincorporation of housing development fund companies; provides for tax exemptions and abatements for housing development fund companies.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax exemptions and abatements for housing development companies, directly supporting affordable housing through fiscal incentives.95% confidence ✓ HousingSupports HousingProvides tax exemptions/abatements for housing development fund companies to enhance affordability and preservation, directly advancing housing goals.90% confidence

Sub-Topics Affordable Housing Housing Finance Property Taxes

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in committee · New York · Senate Jan 7, 2026

S 5864: Establishes a tax credit for rent paid on the personal residence of certain taxpayers

Establishes a tax credit for rent paid on the personal residence of certain taxpayers who lease the taxpayer's primary residence during the taxable year and who pay rent with respect to such residence in excess of thirty percent of such taxpayer's gross income for such taxable year.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit for renters paying >30% of income in rent, offering tax relief to lower/middle-income households per bill summary.95% confidence ✓ HousingSupports HousingTax credit for renters paying >30% of income on rent directly supports affordable housing affordability for low-income tenants.90% confidence

Sub-Topics Business Taxes Tax Credits Property Taxes Renters Tenant Rights

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in committee · New York · Senate Jan 7, 2026

S 1091: Establishes a rent increase exemption for certain nonprofit organizations

Establishes a rent increase exemption for certain nonprofit organizations; provides a tax abatement for limiting rent increases on nonprofit organizations in a city of one million or more persons.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax abatement (relief) for nonprofits, directly aligning with tax relief support indicators for targeted groups.95% confidence ✓ HousingSupports HousingBill provides rent exemption and tax abatement for nonprofits in large cities, maintaining affordable housing costs by limiting rent increases for nonprofit housing providers.90% confidence

Sub-Topics Tax Incentives Property Taxes Renters Tenant Rights

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