New York policy
A1877: Grants real property tax abatement to rent-controlled or rent regulated properties when the maximum authorized rent exceeds 1/2 of the tenants' household income
NY Assembly · Sponsor Erik Dilan
- Jurisdiction
- New York State
- Applies to
- New York State (proposed)
- Effective
- January 7, 2026
What it requires
Authorizes application of the property tax abatement for rent-controlled or rent regulated properties occupied by senior citizens or disabled persons, to those units occupied by tenants paying the maximum allowable rent when such rent exceeds 1/2 of the household income; provides for state payments to cities affected thereby equal to 10% of lost real property tax revenue.
ny-stateassemblylegislationbill
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