Gov. Hochul signs affordable housing legislation
Gov. Kathy Hochul signed three housing bills aimed at making the cost of living a little easier for seniors in the state.
One of the bills helps seniors stay in their homes and restore them.
Another major provision expands the property tax exemption for people over 65 and those with disabilities. The state will now allow local governments to raise the cap from $29,000 to $50,000.
The governor says the state owes our seniors who have not only missed and lost so much during the pandemic but are struggling to stay afloat living on fixed incomes.
The last bill is focused on helping younger New Yorkers build wealth by helping them buy their first home, which will hopefully increase in value over time.