NY Real Property Tax Law §485-x — Affordable Neighborhoods for New Yorkers (NYC Tax Abatement) (NY)
Tracked preemption from the New York overlay bundle.
Overview
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Effective
2024-04-20
Sunset
2034-06-15
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 §467-m — NYC Office-to-Residential Conversion Tax IncentiveNY 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.485x_eligibility | add | available | State-authorized NYC tax-incentive program. Replaces expired 421-a. Tiered affordability, wage floor, 25% MWBE contracting goal. |
Citation
Authority source
NY Real Property Tax Law §485-x (FY 2025 Enacted Budget, April 2024)
§ RPTL §485-x
Research notes
NYC-only. Covers projects commenced on/after June 16, 2022 through June 15, 2034; completion deadline June 15, 2038. Tax-incentive program (not a zoning override) — documented here because it is state-authorized and load-bearing for NYC pro-forma analysis.