New Paltz Village, N.Y., Code of Ordinances ch. 132 (eCode360 ed. 2026) § 132-7
Tax assessment
Operative Text
The limited rental income and/or sales value of AH units shall be taken into consideration by the Town Assessor in determining the full value basis for assessments on such units.
Under New Paltz Village Code Chapter 132, Section 132-7, the assessed value of affordable housing (AH) units must reflect the restrictions placed on their rental income and resale price. Because these units are subject to income and price limits, the Town Assessor is directed to account for those limitations when calculating the full value used for property tax assessment purposes. This means AH units are not assessed as if they were unrestricted market-rate properties.
Plain English — not legal advice.
Owners of affordable housing units subject to Chapter 132, Section 132-7 generally ensure that the Town Assessor has accurate documentation of any applicable rental income caps and resale restrictions on their AH units. Providing this information proactively—such as copies of affordability agreements or recorded deed restrictions—supports an accurate assessment that reflects the unit's limited income potential. Operators familiar with this provision typically maintain records that clearly demonstrate the scope of any regulatory restrictions on the property.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Section 132-7 of New Paltz Village Code Chapter 132 establishes that the limited income and resale value of affordable housing units must be factored into their tax assessments, which can affect the overall cost structure of operating those units. Tenants in AH units may find this provision relevant if questions arise about whether a landlord's costs are being calculated fairly under the affordability program. Tenant-rights organizations or a local housing authority can help residents understand how assessment practices under this provision interact with their housing program's affordability requirements.
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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