States / New York / S 1805

S 1805 In Committee

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

Introduced
In Committee
Floor
Crossed Over
Passed
Enacted

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.

Chamber
Senate
Introduced
Jan 14, 2025
Last action
Jan 7, 2026 — REFERRED TO CITIES 1
Session
2025-2026
Momentum
35 · Low