New York A02224 mandates that affordable housing projects use the area median income for the specific county where the project is located to.
New York A02224 amends the real property tax law to require all affordable housing projects, including 421-a projects, to base their area median income (AMI) calculations on the specific county where the project is located. This change ensures that affordability assessments reflect local economic conditions. The amendment takes effect immediately upon enactment.
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