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NYC Rent Laws Get Four-Year Extension


In addition to the same-gender marriage bill, state lawmakers on Friday also passed an omnibus bill that extends the city’s rent laws, caps property taxes, and raises tuition at SUNY and CUNY schools.

The bill extends the city’s rent regulations for four more years.

It raises the threshold for removing apartments from rent stabilization to $2,500 a month, up from $2,000.

Tenants who make more than $200,000 a year would pay market rent, up from the current income ceiling of $175,000.

The bill also caps property taxes across the state at two percent a year or the rate of inflation, whichever is less.

Additionally, it authorizes SUNY and CUNY campuses to increase tuition by up to $300 annually for five years.

(Source: NY1)



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