
Hochul OKs Tax Relief Path for Penn South, Builds on Mitchell-Lama Cuts
Governor Kathy Hochul signed a bill letting New York City grant local tax relief to Penn South, the last Article V co-op, complementing her FY26 Budget move that cut shelter-rent taxes for NYC Mitchell-Lama households by at least half—savings estimated at up to $50 million a year citywide. The new law enables similar local relief…