PRESS RELEASE
Albany, NY (April 29, 2025) – Habitat for Humanity of New York State (HFH-NYS) proudly celebrates the passage of landmark legislation (S1718B/A355C) aimed at significantly expanding affordable homeownership opportunities across New York State. The bill, sponsored by Senator Michelle Hinchey and Assemblymember Didi Barrett, is focused on fair tax assessments for low-income families purchasing homes from nonprofit housing organizations using state housing subsidies.
“The new victims of the housing crisis are families that are working full-time jobs and doing everything that is expected of them but nonetheless find that the dream of homeownership is increasingly out of reach,” said Michael Barrett, CEO of Habitat for Humanity of New York State. “This legislation is a critical step forward in making that dream achievable once again.”
Currently, homes built or rehabilitated by organizations like Habitat for Humanity are taxed at full market value, despite restrictions that significantly limit their resale and marketability. This creates an unfair tax burden that disproportionately affects low- and moderate-income families and undermines efforts to increase affordable homeownership.
This legislation provides a clear, equitable path to permit localities to assess taxes that more accurately reflect the true market value of subsidized homes. Barrett added, “Habitat for Humanity of NYS extends our heartfelt thanks to Senator Hinchey and Assemblymember Barrett for their incredible leadership, not just in helping make the prospect of homeownership more attainable, but for helping build strong and sustainable communities.”
Of important note, this legislation – which will generate new tax revenue for local jurisdictions – nonetheless requires that counties and other taxing jurisdictions opt-in to participate. By encouraging the development and rehabilitation of affordable homes, more properties are added to the tax rolls, transforming vacant and zombie properties into productive, tax-contributing assets.
Habitat for Humanity of New York State also acknowledges Governor Kathy Hochul’s focus on affordable housing initiatives and calls upon her continued support.
“Governor Hochul’s Executive Budget contained this and other robust housing initiatives in an effort to keep New Yorkers in New York State,” Barrett explained. “Now that this legislation has passed, Habitat respectfully requests that the Governor continue her commitment by not only signing this bill into law but urging counties throughout the state to adopt this proposal in order to increase homeownership for low- and middle-income families.”
About Habitat for Humanity of New York State: Habitat for Humanity of New York State supports affordable housing by creating resources, providing assistance, and developing tools for Habitat affiliates across the state. With a focus on the transformational benefits of homeownership, Habitat builds and rehabilitates homes to strengthen communities and empower families. To learn more, visit www.habitatnys.org.