New YorkA 3552025-2026 Regular SessionHouseWALLET

Provides for a partial exemption from taxation of certain residential real property transferred by a governmental entity, nonprofit housing organization, land bank or community land trust to low-income household

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 2 costs, 0 mixed.

Property tax break for low-income households

Low-income households can get a break on local property taxes for qualifying homes. The home must be transferred by a government, nonprofit housing group, or land bank, or be on land owned by a community land trust. Your income at move-in must be at or below 80% of the area median income, you must live there as your main home, and a qualifying group must certify you. The local government sets the exact exemption between 25% and 75% of the assessed value. You must apply on the state form with your assessor by the taxable status date.

When your exemption can end

Your exemption ends if the property stops being mainly residential or stops being your primary home. It also ends if you transfer it to someone who is not an eligible heir or a qualifying low-income household. The assessor must mail a notice. You can appeal, but you must prove you still qualify.

Local opt-in needed for tax break

This tax break only applies where local leaders opt in. A county, city, town, or village must pass a local law after a public hearing. A school district must pass a resolution, and districts under Article 52 of the Education Law cannot opt in.

Sponsors & Cosponsors

Sponsor

Didi Barrett
Democratic • House

Cosponsors

Alicia Hyndman
Democratic • House
Anil Beephan Jr.
Republican • House
Billy Jones
Democratic • House
Carrie Woerner
Democratic • House
Christopher Eachus
Democratic • House
Deborah Glick
Democratic • House
Donna Lupardo
Democratic • House
Jo Anne Simon
Democratic • House
Jonathan Jacobson
Democratic • House
Maritza Davila
Democratic • House
Matthew Simpson
Republican • House
Nikki Lucas
Democratic • House
William Colton
Democratic • House

Roll Call Votes

All Roll Calls

Yes: 49 • No: 12

House vote • 4/29/2025

FLOOR Vote

Yes: 49 • No: 12

Actions Timeline

SIGNED CHAP.432
10/16/2025House
DELIVERED TO GOVERNOR
10/9/2025House
RETURNED TO ASSEMBLY
4/29/2025Senate
REPASSED SENATE
4/29/2025Senate
3RD READING CAL.682
4/29/2025Senate
SUBSTITUTED FOR S1718B
4/29/2025Senate
RECOMMITTED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
4/28/2025Senate
RETURNED TO SENATE
4/28/2025House
REPASSED ASSEMBLY
4/28/2025House
AMENDED ON THIRD READING 355C
4/8/2025House
VOTE RECONSIDERED - RESTORED TO THIRD READING
4/8/2025House
RETURNED TO ASSEMBLY
4/8/2025Senate
RECALLED FROM SENATE
4/8/2025House
REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
3/18/2025Senate
DELIVERED TO SENATE
3/18/2025House
PASSED ASSEMBLY
3/18/2025House
ORDERED TO THIRD READING RULES CAL.108
3/18/2025House
RULES REPORT CAL.108
3/18/2025House
REPORTED
3/18/2025House
REPORTED REFERRED TO RULES
3/18/2025House
REPORTED REFERRED TO WAYS AND MEANS
3/18/2025House
PRINT NUMBER 355B
3/12/2025House
AMEND (T) AND RECOMMIT TO REAL PROPERTY TAXATION
3/12/2025House
PRINT NUMBER 355A
2/5/2025House
AMEND (T) AND RECOMMIT TO REAL PROPERTY TAXATION
2/5/2025House

Bill Text

Amendment C
4/8/2025
PDF
Amendment B
3/12/2025
PDF
Amendment A
2/5/2025
PDF
Original
12/31/2024
PDF

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