Bills affecting Homeowner in New York (2026 session)

Limits the amount of property tax shift between homestead/non-homestead and class share apportionment for local governments within and including Nassau and Suffolk County.

Provides a real property tax exemption to agricultural lands that are used for certain purposes.

Repeals the provision of law that volunteer firefighters and ambulance workers who receive a real property tax exemption for service may not receive the income tax credit for such service.

Establishes the end toxic home flipping act; imposes a tax on the transfer of certain residential properties which are sold within two years of the prior conveyance of such property; exempts certain purchases of residential properties from mortgage recording taxes; imposes a tax on the transfer of certain properties in the city of New York which are sold for one million dollars or more.

Discontinues the real property tax exemption for certain real property that is used for home games for certain professional sports teams in New York city beginning with the 2026 assessment roll.

Establishes the homeowner protection program; provides that the department of law shall establish the homeowner protection program to ensure the availability of free housing counseling and legal services to homeowners for the purposes of mitigating threats to homeownership; provides that the department of law shall provide grants to eligible not-for-profit housing counseling organizations and legal services organizations to provide services under the program.

Extends eligibility for the agricultural property tax credit to farmers having a leasehold interest of not fewer than five continuous years in qualified agricultural property.

Creates a veteran's home and land ownership loan program to provide loans to veterans to purchase homes or unimproved land suitable for building; requires such loans to be secured by a second mortgage.

Relates to raising the income cap for senior citizens applying for the enhanced STAR property tax exemption to $120,000.

Prohibits the governor, the legislature and state agencies from imposing residential housing zoning requirements on local governments without approval from the local government.

Provides that any person who has been injured by reason of any violation of any such rules, regulations or policies as the superintendent may promulgate may bring an action in such person's own name; assert a counterclaim; or, if an action is commenced by the mortgagee or anyone acting on its behalf, bring a third party claim, against either the mortgagee and/or the mortgage servicer to enjoin any violations thereof; authorizes damages; makes related provisions.

Provides that for taxable years beginning on and after January first, two thousand twenty-five, a resident taxpayer who serves as an active volunteer firefighter or as a volunteer ambulance worker shall be allowed a credit against the tax imposed equal to eight hundred dollars; provides for a real property tax exemption under certain circumstances to an enrolled member of an incorporated volunteer fire company, fire department or incorporated voluntary ambulance service residing in such city, village, town, school district, special district, fire district or county.

Requires the department of financial services to fulfill certain requirements to implement homeowner natural disaster preparedness, home safety and loss prevention courses.

Requires the state to reimburse municipalities for loss of real property tax revenue resulting from the establishment of community residential facilities for the disabled.

Authorizes the state of New York mortgage agency to purchase rehabilitation mortgages from banks within the state during periods when there is an inadequate supply of credit available for new residential mortgages or available for such loans at carrying charges within the financial means of persons and families of low and moderate income.

Authorizes municipalities to establish a history, arts, and culture levy to support history, arts, and culture; exempts such levy from the real property tax levy limit.

Provides that the amount of a STAR real property tax savings may not be less than the amount of the STAR real property tax savings from the previous year.

Establishes the manufactured home community preservation act to provide financial and technical assistance, within funds available to counties, municipalities, rural preservation companies, and other non-profit housing organizations for their housing preservation efforts; provides that funds in the mortgage insurance fund can be used to provide financial support to local governments and eligible non-profit housing organizations.

Grants real property tax exemption to disabled veterans regardless of whether they served during a "period of war".

Relates to tax lien foreclosure; establishes senior, disabled, and veteran homeowner real property tax assistance program; establishes installment plans for certain real property taxes.