Authorizes the city of Oleans assessor to accept an application for a real property tax exemption from OWH Properties, Inc. (Operation Warm Hearts) for all of the 2025-2026 school taxes and all of the 2025 general taxes.
This bill increases the occupancy tax in St. Lawrence County from three percent to five percent. It directly affects guests staying at hotels, motels, apartment hotels, and boarding houses within the county by raising the fee charged on their room rentals. The law allows the county to collect this additional tax on the per diem rental rate for each room, regardless of whether the stay is daily or longer. The change takes effect immediately upon passage.
Authorizes the town of Clarkstown to establish community preservation funds and to impose a real estate transfer tax with revenues therefrom to be deposited in the community preservation fund; provides for the repeal of certain provisions upon expiration thereof.
Increases the maximum aggregate principal amount of the outstanding notes and bonds of the New York city housing development corporation from twenty billion dollars to twenty-two billion dollars.
This bill extends the deadline for applying for green roof tax abatements in New York City to March 15, 2030. It allows property owners in the city with a population of one million or more to claim financial incentives for installing green roofs, with specific dollar amounts per square foot and a five-year window to use any unused tax savings. The legislation also maintains existing caps on the total amount of abatements available annually and continues the program through the end of the 2030 tax year.
Prohibits pre-payment penalties for mortgages secured by real property owned in a cooperative form of ownership where over fifty percent of the units are shareholder occupied.
Enacts "Shavon's law" prohibiting enforcement of a lien where an occupant has a pending social services department storage fee assistance request or appeal; provides the necessary steps for ensuring such enforcement is paused.
Enacts the "fairness in cooperative homeownership act"; regulates the submission and determinations of applications for ownership of cooperative apartments.
This bill increases the homestead exemption value - protecting home equity from civil judgments - from $150,000 to $250,000 for homeowners in New York City boroughs, Nassau, Suffolk, and surrounding counties. For other counties, it raises the exemption to $125,000 (Dutchess, Albany, etc.) and $75,000 for remaining areas. If a home’s value exceeds these limits, creditors can claim the surplus value after the exemption amount is protected. The law directly affects homeowners in New York State who face civil judgments, ensuring more home equity remains shielded from debt collection.
Provides for adjustment of the maximum income threshold for eligibility for the senior citizen rent increase exemption (SCRIE), disability rent increase exemption (DRIE), senior citizen homeowners' exemption (SCHE), and disabled homeowners' exemption (DHE) by any increase in the consumer price index (CPI).
