Bills affecting Homeowner in New York — 2026 session

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.

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.

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

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.

Extends eligibility for real property tax exemptions to veterans who served on a submarine or on classified missions during a period of war as documented by military service records.

Establishes a real property tax freeze credit for taxpayers in certain eligible school districts.

Requires a second notification to persons previously eligible for a senior real property tax exemption.

Relates to property tax exemptions for nonprofit organizations; allows for nonprofit organizations to file an application for an exemption with the assessor no later than the taxable status date applicable to the following year's assessment roll where such nonprofit organization has purchased property after the taxable status date but prior to the levy of taxes.

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.

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.

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 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.

Allows the alteration or repeal of real property tax exemptions for private institutions of higher education.

Enacts the "homebuyer renovation property tax exemption act" to grant an exemption of up to fifteen thousand dollars from taxation levied by or on behalf of any county, city, town, village or school district in which such residential property is located for a period of five years from the date of purchase of the property; defines "primary residential property".