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NY S09287
Bill
Status
2/25/2026
Primary Sponsor
Michelle Hinchey
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AI Summary
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Creates a 10% property tax exemption for full-time residents in counties with populations between 150,000 and 1 million where at least 6% of housing units are seasonal, recreational, or occasional use properties
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Owner-occupied properties qualify if the owner uses the property as their primary residence and is enrolled in or eligible for the STAR exemption program
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Rental properties qualify if occupied by a tenant under a written lease of at least 12 months who uses the property as their primary residence
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Exemption applies only to residential properties with 3 or fewer dwelling units and requires local governments (cities, towns, villages) to opt in by adopting a local law after a public hearing
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Requires the Department of Taxation and Finance to study and report on the exemption's impacts within 5 years, including effects on tax redistribution, year-round residency rates, and housing availability
Legislative Description
Establishes a real property tax exemption for certain property owners who reside full-time on such property in certain counties; requires that such owners occupy such property as their primary residence and are enrolled in or eligible for the STAR exemption or that such owners rent to a tenant for a term of at least twelve months and such tenant occupies such property as their primary residence.
Last Action
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
2/25/2026