Key legislators
Who's moving property taxes in New York
Showing 111–116 of 116
bills
All housing bills
Directs the commissioner of housing and community renewal to create and maintain a database of vacant residential housing units, and to create an affordable housing development program; imposes a tax on vacant residential housing units; creates an affordable housing development program fund.
Establishes an optional local tax exemption for affordable multi-family housing, to be implemented by cities, towns and villages based on recommendations developed by the division of housing and community renewal for each economic development region.
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.
Requires affordable housing units that are subject to the provisions of the Affordable New York Housing Program to be subject to rent stabilization at the end of the tax abatement and extended affordability period; provides that units subject to tax exemptions or abatements pursuant to other laws be subject to rent stabilization at the expiration of such tax exemptions or abatements.
Establishes a manufactured housing tax credit which provides for a credit of up to two thousand dollars for each new manufactured home that the taxpayer constructed and for which a certificate of occupancy has been issued on or after January first, two thousand twenty-five and on or before December thirty-first, two thousand thirty-one.
Alters tax exemption programs for the development of new and affordable housing; defines "initial construction period" and "extended construction period"; makes related changes.
