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New York policy

485-x (Affordable Neighborhoods for New Yorkers Tax Incentive)

Statute · enacted April 2024

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Jurisdiction
New York State
Applies to
NYC multifamily rental developers
Effective
April 1, 2024

What it requires

Provides property tax exemption tied to affordability and construction-wage requirements

housingreal estateeconomic developmentstatuteny-statenypolicy

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