New York Homebuyers Told Massive Changes Are Coming

Governor Hochul says she’s making homeownership more affordable for New Yorkers.

Governor Kathy Hochul has signed legislation that she says will make homeownership more attainable in New York.

Anyone in the home market, especially first-time buyers, knows it's a terrible time to buy a home.

Hochul Says She Is Making Home Ownership More Affordable

Gov. Hochul is trying to change that.

“Every New Yorker deserves a safe, stable place to call home,” Hochul said. “We’re opening more doors to homeownership and strengthening protections for renters.”

Homes In These Upstate New York Counties Selling Faster Than Most Of America

For all the news that the Hudson Valley is sharing, make sure to follow Hudson Valley Post on Facebook, and download the Hudson Valley Post Mobile App

This week, Hochul signed a massive housing package aimed at helping New Yorkers buy homes and protecting renters across the state.

The home ownership package provides tax incentives for buyers and strengthens laws to fight home appraisal discrimination.

Making Homeownership More Affordable

One new law gives local governments the option to offer property tax breaks on affordable homes built through nonprofits, land banks, or community land trusts.

The idea is to bring down housing costs and help more working and middle-class families finally buy a home.

State Senator Michelle Hinchey said the law could be a game-changer for Upstate New Yorkers, where working families are being priced out.

Alert: Residents On Edge As Purple Warnings Appear Across New York

“Our legislation will help more New Yorkers realize the dream of owning a home and achieve the kind of housing stability that carries on across generations,” she said.

Redeveloping Vacant Properties

Another bill allows local governments to offer property tax incentives to turn abandoned or vacant homes into affordable housing.

Lawmakers say it’s especially important for communities where the cost of fixing up old properties often outweighs their value.

The new laws promise more affordable paths to homeownership, stronger renter protections, and new rules cracking down on housing discrimination and unfair fees.