This bill sets a maximum 16% annual interest rate and a minimum 2% annual interest rate on late payments for residential property taxes, replacing higher local rates. It applies to residential properties including condos and co-ops, but excludes vacant and abandoned properties listed on a statewide registry. The interest rate will be tied to the prime rate (as defined by the commissioner), with the initial rate based on 2026 data and updated every five years. This limits how much interest homeowners can be charged on overdue residential tax bills, ensuring rates stay within the 2%-16% range.
This bill creates the Vacant Rental Improvement Program, providing grants of up to $75,000 per unit to owners of small rental buildings (five or fewer units) located outside New York City. It requires renovated units to be leased at affordable rates - defined as 80% of area median income - for a 10-year period, with new owners inheriting the affordability requirement. The program prioritizes vacant units or those with code violations and establishes a dedicated "rental improvement fund" for financing. Owners who violate the lease terms risk full repayment of grants.
Includes not-for-profit corporations and public television or radio corporations in the definition of business entity; allows such entities to claim the newspaper and broadcast media jobs tax credit.
Establishes the block by block homeownership program to provide capital subsidies for the purpose of constructing, preserving, and rehabilitating one- to two- family dwellings throughout the state, outside of NYC.
This bill extends Herkimer County's authority to impose an additional 1% sales tax until November 30, 2027. The tax applies to all sales within the county and must be used exclusively for constructing new correctional facilities. Any remaining funds after construction costs are paid must be deposited into the county's general fund for other public purposes. The extension updates the existing tax authority that previously expired in 2025.
This bill extends Cortland County's authorization to collect an additional 1% sales tax on top of the existing 3% rate. It directly affects residents and businesses in Cortland County by allowing the county to continue this tax until November 30, 2027. The key provision amends tax law to update the expiration date from 2025 to 2027, maintaining the current tax structure without changing the rate or scope. The bill does not alter the tax rate or expand its application beyond the county's existing authorization.
This bill extends Schenectady County's authority to impose an additional 0.5% sales and use tax (on top of the existing 3% rate) until November 30, 2027. It modifies the tax law to allow the county to maintain this tax rate for the period beginning June 1, 2023, and ending on the specified date. The policy directly affects residents and businesses in Schenectady County that pay these taxes. The extension provides continued funding flexibility for the county without changing the tax rate or scope.
S 1863 extends the existing hotel and motel tax in Woodbury for an additional two years, directly affecting hotels and motels operating in the town that currently pay this tax. The bill amends the tax law to remove a previous expiration date (originally set for 11 years after implementation) and makes the tax effective immediately without a future end date. This change ensures the tax continues to fund local services without requiring a new legislative action for the next two years. Note: The bill was substituted by A4315A on May 27, 2025, but this summary reflects its original proposed provisions.
This bill extends Ulster County's authority to impose an additional 1% sales and use tax for two more years, from September 2022 through November 2027. It directly affects residents and businesses in Ulster County who pay sales tax, as it maintains the existing 1% surcharge on top of the standard 3% rate. The bill modifies tax law to clarify that collections from this additional tax during the extended period will be handled under Ulster County's existing agreement with the city of Kingston. The change is procedural and does not alter the tax rate or create new revenue mechanisms.
This bill extends the expiration date of North Castle's existing occupancy tax from 2025 to 2027. It directly affects the town of North Castle and businesses collecting the tax on short-term lodging (like hotels or vacation rentals). The key mechanism is amending the tax law to change the expiration date from September 1, 2025, to September 1, 2027, keeping the tax in effect for two additional years.
