Applications Pursuant to RPTL §485-x – ANNY Program Benefits

Effective date: September 13, 2026

Printable Version of Proposed Rule Text
HPD-Proposed-Amendment-of-Rules-Relating-to-Affordable-Neighborhoods-for-New-Yorkers-Tax-Incentive-Program.pdf

Printable Version of Adopted Rule Text
485-x-Homeownership-Applications-Final-Rule-5.pdf

Hearing transcript
Public-Hearing-06.30.26-5.pdf

Hearing transcript audio/video
RPTL-485-x-Application-Registration-Form-Penalty-Amount-Proposed-Rule-Hearing-20250313-1732-1-5.mp4

Adopted rule summary:

HPD rules govern the requirements for applications for tax exemptions pursuant to Real Property Tax Law Section 485-x (“ANNY Program Benefits”). This amendment reverts to previous best practices under prior versions of this tax benefit program and fixes issues with the timeline of the application process for ANNY Program Benefits for homeownership projects. Specifically, the amendment allows homeownership projects to file their ANNY Program Benefits applications if at least fifty percent of all units have been sold, in order to make it easier for such projects to meet the application filing deadline of one year from completion of construction, provided that proofs of sale for all units in the project are submitted before ANNY Program Benefits are granted.