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Governor Hochul Signs Legislation to Strengthen Housing Affordabi... AUGUST 8, 2022 | Albany, NY Governor Kathy Hochul today signed a legislative package aimed at expanding tax relief for New York homeowners, particularly those... Learn more about…

New York State Homes and Community Renewal Commissioner RuthAnne Visunauskas said, "Like the rest of the nation, New York is struggling with the rising costs of housing and homeownership. By signing this package of critical legislation, Governor Hochul is taking decisive steps to improve housing affordability in our state, make first-time homeownership possible for more people, and improve funding for programs like RESTORE so that more seniors can live safely and affordably in their own homes."

Acting Commissioner of Taxation and Finance Amanda Hiller said, "Ensuring affordability for seniors, people with disabilities, and those with limited income allows them to make ends meet during these challenging economic times. These property tax exemptions can serve as a valuable lifeline to millions of hard-working New Yorkers. I applaud Governor Hochul and the state legislature for their continued efforts to combat inflation and rising costs on many of life's daily necessities."  

Office of Temporary and Disability Assistance Commissioner Daniel W. Tietz said, "Under Governor Hochul's leadership, we are making sure that our most vulnerable older adults can easily access programs and services that can help them cope with the rising costs for basic necessities such as food, energy and housing. Seniors living on a fixed income face many challenges and these legislative bills will make it easier for those struggling to remain stably housed and continue to be a vital part of the community."

New York State Office for the Aging Acting Director Greg Olsen said, "These new laws will enhance the ability of programs that provide vital assistance to help older adult homeowners age in place, find housing stability, and economic security. I commend Governor Hochul for expanding these programs and options to help homeowners of all ages."

Senate Majority Leader Andrea Stewart-Cousins said, "The senior population is one of New York's fastest growing demographics, and a source of great pride for our state. After a lifetime of contributions, it's our duty to ensure that seniors can live in comfort and dignity for the remainder of their days. My bill helps in that goal by expanding the property tax exemption eligibility for those 65 and older, and for those who are disabled and face limited income. This will help alleviate the burden placed on those with financial constraints, and protect the assets of seniors and other vulnerable populations. I thank the Senate Majority for their attention to this issue, and Governor Hochul for signing these crucial bills into law today."

State Senator Michelle Hinchey said, "Across New York, thousands of senior homeowners are living in unsafe conditions because they cannot afford to keep up with the costs of home repairs, and that is unacceptable. My RESTORE bill will help seniors on fixed incomes make the repairs and accessibility modifications they need to live safely and independently in the homes and communities they've always known. I'm incredibly proud to sponsor this bill to lower homeownership costs for seniors and expand the dignity of safe housing, and I thank Governor Kathy Hochul for signing it into law." 

State Senator Brian Kavanagh said, "Even before the pandemic, New Yorkers were facing a housing affordability crisis. Currently, inflationary pressures, including higher mortgage rates, have made this an even more difficult market for those seeking to buy their first home. The bill I sponsored will help ease the financial burden by extending the date allowable for municipalities to continue local tax exemption programs for first-time homebuyers, helping families realize the goal of owning a part of the American Dream. This bill and the others that Governor Kathy Hochul is signing today are part of our ongoing commitment to promoting affordable homeownership and protecting New Yorkers from housing instability. I thank Assemblymember Steve Englebright for championing this bill in the Assembly and the Governor and Senate Leader Andrea Stewart-Cousins for their leadership in the fight to make housing more affordable and helping New Yorkers to thrive."

Assemblymember Steve Englebright said, "Young workings families have a very hard time trying to meet the costs associated with the purchase of their first home. This legislation will make it easier for families to move from renters to homeowners." 

Assemblymember Tom Abinanti said, "This new law will help more of New York's seniors and people with disabilities on limited incomes stay in their homes in the communities where they have a network of friends and relatives. It could significantly lower their cost of living by lessening the ever-increasing burden of local property taxes. It will let local governments extend  the current property tax exemption to more of these very vulnerable New Yorkers by raising the maximum income limit from the current  $37,400 to $50,000 -- which not been raised in 13 years --  since 2009.  I applaud Governor Kathy Hochul's recognizing how important this new law will be to our communities."

Assemblymember Carrie Woerner said, "My thanks to Governor Hochul for her leadership on expanding affordable housing throughout the state.  By signing my bill adding flexibility in the use of RESTORE funds, following on the heels of increased funding in this year's budget, we enable organizations in rural communities to better address emergency home repairs for low income seniors."

AARP NY State Director Beth Finkel said, "Strengthening these programs goes right to the heart of ensuring housing is affordable and accessible- a cornerstone of making our communities age-friendly.  AARP New York is committed to an age-friendly state so all of our neighborhoods and localities are livable for older residents and people of all ages."