New Castle, N.Y., Code of Ordinances ch. 10 (eCode360 ed. 2026) § 10-7
Assessment
Operative Text
The encumbrance on the density incentive apartments shall be taken into consideration by the Town Assessor in determining the full value basis for assessments on such units.
Under New Castle, N.Y., Code of Ordinances ch. 10 § 10-7, when a residential unit qualifies as a density incentive apartment, the legal restrictions attached to that unit — such as affordability requirements — are factored into how the Town Assessor calculates the property's full assessed value. In other words, the encumbrance is not ignored; it is treated as a characteristic of the property that may affect its valuation. This provision establishes a direct link between the regulatory burden on these units and the assessment process.
Plain English — not legal advice.
Property owners with density incentive apartments in New Castle should be aware that, under ch. 10 § 10-7, the Town Assessor is required to account for any encumbrances on those units when determining full value for assessment purposes. Compliant operators generally maintain clear documentation of the affordability or density-incentive restrictions recorded against their units, as this information is directly relevant to the assessment calculation. Keeping records of the encumbrance terms can be useful when engaging with the assessor's office during any valuation review.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Section 10-7 of New Castle's Code of Ordinances provides that the encumbrances on density incentive apartments — which often include affordability restrictions — must be considered in the tax assessment of those units. Tenants living in such units may find this relevant if questions arise about whether the assessed value of their building accurately reflects its restricted status. Those with concerns about how this provision is being applied can consult a tenant-rights organization or reach out to the Town Assessor's office for clarification.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated November 9, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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