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NY A08806
Bill
Status
6/9/2025
Primary Sponsor
David Weprin
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AI Summary
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Extends New York City's property tax rebate program to fiscal year 2024-2025 (July 1, 2024 through June 30, 2025), updating the previous program from fiscal year 2021-2022
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Increases the income eligibility threshold from $250,000 to $500,000 in qualified gross income for all owners using the property as their primary residence
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Raises the maximum rebate amount from $150 to $175 per eligible property
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Adjusts the "substantially higher" income threshold for fraud penalties from $275,000 to $525,000
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Requires property ownership to be recorded with the city register or Richmond County clerk by June 30, 2025, and establishes June 15, 2025 as the date by which the property must serve as the owner's primary residence
Legislative Description
Relates to a rebate against real property taxes for certain owners of real property in the city of New York for the fiscal year commencing July 1, 2024.
Last Action
referred to real property taxation
1/7/2026