Bay Ridge

Bay Ridge lawmakers say rent law needed tweaking

June 26, 2015 By Paula Katinas Brooklyn Daily Eagle
Assemblymember Nicole Malliotakis says the legislation will protect tenants and homeowners alike. Eagle file photo by Paula Katinas
Share this:

State Assembly members representing Bay Ridge all voted in favor of legislation extending New York City’s rent control law and each pointed to what they said are positive changes in the legislation that will help tenants and homeowners.

The State Legislature approved the rent law extension in the final hours of the 2015 legislative session on Thursday.

Assemblymember Alec Brook-Krasny (D-parts of Bay Ridge-Coney Island) said tenants aren’t the only people who will benefit from the legislation. The state also stepped in to help homeowners by keeping property taxes under control, he said.

“The rent regulation package includes measures to help renters by raising the rent de-control threshold, tying future increases to this threshold to housing prices, and extending rent regulation for another four years, but it also helps homeowners by keeping property taxes under control and providing a property tax rebate for people all across New York,” Krasny said.

Subscribe to our newsletters

Extending rent protections to some 2 million apartment dwellers in New York City had bipartisan support.

“I am pleased that at the end of the day we were able to work together and successfully deliver relief and protection for homeowners and renters in our community,” said Assemblymember Nicole Malliotakis (R-C-parts of Bay Ridge-Staten Island). “This legislation will protect tenants and help homeowners keep hard-earned money in their pockets.”

The legislation extends rent regulations for tenants for another four years, the Associated Press reported. The new law will also raise the threshold for vacancy decontrols, according to the AP report.

Governor Andrew Cuomo, State Senate Majority Leader John Flanagan and Assembly Speaker Carl Heastie hammered out the rent control agreement earlier in the week before it was presented to the Assembly and state Senate for votes.

Here are the highlights of the legislation that was passed in Albany:

  • Emergency Tenant Protection Act – In addition to extending the lapsed Rent Control Laws until June of 2019, the Tenant Protection Act will also expand the current law to protect renters from unfair treatment or abuse. 

  • Enhanced Real Property Credit for NYC – This bill allows for a personal income tax for homeowners or renters who reside in New York City and whose real property taxes or rent equivalent to real property taxes exceed a certain amount of their household income. The Enhanced Real Property Tax Circuit Breaker Credit for NYC tax is extended to 2020.

  • NYC Partial Abatement for Condominiums/Co-Op Units – This program, which reduces a portion of taxes for residents who live in condominiums and Co-Op units, has been extended for four years. 

Brook-Krasny said the legislature “took steps to lay the groundwork for an affordable future for the State of New York.”

Assemblymember Felix Ortiz (D-Bay Ridge-Sunset Park) applauded the bipartisanship that led to Thursday votes.

“Working together, we are protecting both property owners and renters and ensuring they will be able to save money,” said Ortiz, who is the assistant assembly speaker.


Leave a Comment


Leave a Comment