FOR IMMEDIATE RELEASE

February 4, 2026

Mayor Noble Announces a Proposed Low-Income Partial Tax Exemption

KINGSTON, NY – Mayor Steven T. Noble is pleased to announce that he has proposed that the City of Kingston opt into the Real Property Tax Law §457-A program, which would allow for a partial tax exemption for eligible residential properties sold to a low-income household.

Mayor Noble said, “This exemption would help low-income eligible Kingston residents, who have purchased homes through affordable homeownership programs and entities like the Kingston City Land Bank, RUPCO’s First Time Homebuyers program, and Taproot Community Land Trust to have a tax bill that is commensurate with their home purchase price. We want to ensure that folks who take advantage of these programs are then not overburdened with property taxes and can stay in their homes long term.”

Governor Hochul recently signed new legislation allowing New York’s taxing jurisdictions to opt into this program.

Mike Gilliard, Executive Director, Kingston City Land Bank said, “We applaud this significant opportunity to make the dream of affordable homeownership possible for more hard-working New York families. Predictable housing expenses facilitate stable communities, and we applaud Mayor Noble for his leadership on this important new law.”

A low-income household is defined as one earning no more than 80% of the area median income upon initial occupancy, as certified by a land bank, community land trust, or governmental entity. The law states that the total exemption amount may range between 25% and 75% of the property’s assessed value. Mayor Noble is recommending that the City of Kingston opt in at the 50% level.