New York legislation · 2025-2026 General Assembly
New York A11694: Establishes a tax rebate program for rent-stabilized housing
Status: In committee, September 2, 2026
Establishes a tax rebate program for rent-stabilized housing that targets buildings with individually occupied rent-stabilized apartments where the property tax burden significantly exceeds rental income.
What the bill says
An act to amend the real property tax law, in relation to establishing a tax rebate program for rent-stabilized housing.
From the introduced text, September 2, 2026:
AN ACT to amend the real property tax law, in relation to establishing a tax rebate program for rent-stabilized housing THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS: Section 1. Legislative findings and purpose. The legislature finds that rent-stabilized apartments provide vital affordable housing to lowand moderate-income New Yorkers. However, property taxes can consume a disproportionate share of the rental income from such apartments, threatening their long-term affordability and sustainability. The purpose of this act is to establish a tax rebate program that targets buildings with individually occupied rent-stabilized apartments where the property tax burden significantly exceeds rental income, and to do so in a fiscally responsible and administratively coordinated manner. § 2. The real property tax law is amended by adding a new section 485-z to read as follows: § 485-Z. RENT-STABILIZED HOUSING TAX RELIEF REBATE PROGRAM. 1. DEFINITIONS. FOR PURPOSES OF THIS SECTION: (A) "RENT-STABILIZED APARTMENT" MEANS A HOUSING UNIT SUBJECT TO RENT REGULATION UNDER THE EMERGENCY TENANT PROTECTION ACT OF NINETEEN SEVENTY-FOUR. (B) "ELIGIBLE BUILDING" MEANS A RESIDENTIAL BUILDING WHERE FIFTY PERCENT OR MORE OF THE UNITS ARE RENT-STABILIZED AND INDIVIDUALLY OCCUPIED. (C) "EFFECTIVE TAX BURDEN" MEANS THE PERCENTAGE OF GROSS STABILIZED RENTAL INCOME ALLOCATED TO PROPERTY TAXES, AS DERIVED FROM REAL PROPERTY INCOME AND EXPENSE (RPIE) DATA …
Sponsors
- Linda Rosenthal (D, 67) · primary sponsor
Latest actions
- : REFERRED TO REAL PROPERTY TAXATION
Subjects: Real Property Tax Law
Common questions
- What is A11694?
- A11694 is a bill in the New York Legislature (2025-2026 General Assembly): Establishes a tax rebate program for rent-stabilized housing.
- What does A11694 do?
- In its own words: An act to amend the real property tax law, in relation to establishing a tax rebate program for rent-stabilized housing.
- What is the status of A11694?
- In committee as of September 2, 2026. Latest action: REFERRED TO REAL PROPERTY TAXATION (September 2, 2026).
- Who sponsored A11694?
- Linda Rosenthal (D, 67).
- Where is the official record for A11694?
- On the New York Legislature website: https://www.nysenate.gov/legislation/bills/2025/A11694
Source: official New York record. Tracked by Delilah, AI for legislation across all 50 states and Congress.