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NY A03852

Bill

Official Source

Status

Introduced

1/30/2025

Primary Sponsor

Jaime Williams

Click for details

Origin

Assembly

2025-2026 General Assembly

AI Summary

  • Increases the maximum property tax exemption for capital improvements to residential buildings from $80,000 to $168,000 in increased market value

  • Maintains the existing minimum threshold of $5,000 that localities may set by local law or resolution

  • Preserves the separate $750,000 exemption cap for special assessing units that are not cities

  • Takes effect immediately upon enactment

Legislative Description

Increases the cap on the real property tax exemption of capital improvements to residential buildings.

Last Action

referred to real property taxation

1/7/2026

Committee Referrals

Real Property Taxation1/30/2025

Full Bill Text

No bill text available