New York legislation · 2025-2026 General Assembly
New York A11484: Relates to affordable housing in New York city
Status: In committee, May 27, 2026
Provides that no tax exemption shall be given for any unit that has not agreed in writing to maintain such unit as their primary residence for no less than five years from the acquisition of such unit.
What the bill says
An act to amend the real property tax law, in relation to the affordable neighborhoods for New Yorkers tax incentive.
From the introduced text, May 27, 2026:
AN ACT to amend the real property tax law, in relation to the affordable neighborhoods for New Yorkers tax incentive THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS: Section 1. Paragraphs (d) and (rr) of subdivision 1 of section 485-x of the real property tax law, as added by section 1 of part U of chapter 56 of the laws of 2024, is amended to read as follows: (d) "Affordability option D" shall mean a homeownership project in which one hundred percent of the units shall have an average assessed value per square foot that does not exceed eighty-nine dollars upon the first assessment following the completion date and where [each owner] AT LEAST SIXTY PERCENT OF THE OWNERS of any such [unit] UNITS shall agree, in writing, to maintain such unit as their primary residence for no less than five years from the acquisition of such unit; PROVIDED, HOWEVER, THAT ANY UNIT WHO HAS NOT SIGNED SUCH AN AGREEMENT SHALL NOT BE ELIGIBLE FOR ANY EXEMPTION OF TAXES PURSUANT TO PARAGRAPH (E) OF SUBDIVISION TWO OF THIS SECTION. (rr) "Twenty year benefit" shall mean: (i) for the construction period, a one hundred percent exemption from real property taxation, other than assessments for local improvements; (ii) for the first fourteen years …
Sponsors
- Simcha Eichenstein (D, 48) · primary sponsor
Latest actions
- : REFERRED TO REAL PROPERTY TAXATION
Subjects: Real Property Tax Law
Common questions
- What is A11484?
- A11484 is a bill in the New York Legislature (2025-2026 General Assembly): Relates to affordable housing in New York city.
- What does A11484 do?
- In its own words: An act to amend the real property tax law, in relation to the affordable neighborhoods for New Yorkers tax incentive.
- What is the status of A11484?
- In committee as of May 27, 2026. Latest action: REFERRED TO REAL PROPERTY TAXATION (May 27, 2026).
- Who sponsored A11484?
- Simcha Eichenstein (D, 48).
- Where is the official record for A11484?
- On the New York Legislature website: https://www.nysenate.gov/legislation/bills/2025/A11484
Source: official New York record. Tracked by Delilah, AI for legislation across all 50 states and Congress.