New York lawmakers want to boost the state’s lagging homeownership rate, according to RochesterFirst. Leaders in Albany say they’re crafting budget proposals to help first-time buyers and renters afford rising housing costs.
Assembly Speaker Carl Heastie said Democrats plan to expand funding for first-time homebuyers and the Housing Voucher Program. Senate Republicans rolled out their own package, including a property tax credit for first-time buyers and a three-year freeze on real property taxes.
Sen. Pam Helming and Sen. Jack Martins argued high taxes and utility bills push homeownership out of reach. Lawmakers must finalize the state budget by April 1, setting up a high-stakes debate over affordability.
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