NY Real Property Tax Law §467-m — NYC Office-to-Residential Conversion Tax Incentive (NY)
Tracked preemption from the New York overlay bundle.
Overview
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Effective
2024-04-20
Sunset
—
Authority
state
Scope
state:NY
Other New York preemptions
NY Freshwater Wetlands Act — 2022 Amendment Lower ThresholdNY Real Property Law Article 12-D — Statewide Short-Term Rental Registry FrameworkNYC City of Yes for Housing Opportunity — ADU Legalization (Local Laws 126 & 127 of 2024)NY Multiple Dwelling Law §26(3) — NYC Residential FAR Cap Lifted (Enabling)NY Real Property Tax Law §485-x — Affordable Neighborhoods for New Yorkers (NYC Tax Abatement)NY Real Property Tax Law §421-a Extender — NYC Vested-Project Completion ExtensionNYC Local Law 18 — Short-Term Rental Booking Platform Registration (Preserved)NY Executive Order 30 — Pro-Housing Community Funding Conditionality
Trigger predicate
When this evaluates true for a parcel, the law's preempted fields take precedence over base zoning.
city.is_nyc == TruePreempted fields
1 field on the base district schema is rewritten when the trigger fires.
| Field | Op | Value | Note |
|---|---|---|---|
tax_incentive_programs.467m_eligibility | add | available | NYC-only state-authorized tax incentive for office-to-residential conversions. |
Citation
Authority source
NY Real Property Tax Law §467-m (FY 2025 Enacted Budget, April 2024)
§ RPTL §467-m
Research notes
NYC-only. Companion to 485-x. State-authorized NYC tax-abatement program enabling office-to-residential conversions; not a zoning override.