New legislation aimed at helping to address rising housing costs in the Hudson Valley would authorize Ulster County to pilot a 10% property tax exemption for its full‑time residents.
State Sen. Michelle Hinchey and County Executive Jen Metzger on Tuesday announced the introduction of bill 2025‑S9287, which would allow Ulster County municipalities to opt into a local exemption for homeowners who occupy their property as primary residences and are enrolled in/eligible for the STAR program. The exemption would also apply to property owners who rent to full‑time tenants under a lease of at least 12 months.
The bill looks to address a real estate market that has surged in the county, especially since the pandemic. But the two local leaders say buyers of second homes has significantly reshaped housing availability and affordability. Between 33 and 66% of homes are used in as second residences in towns such as Shandaken, Denning and Hardenburgh, which they said has “contributed to rising home prices and limited inventory” for year‑round residents, they say.
Additionally, homeowners who do not live in the county are not there to shop at local stores.
“This proposal is rooted in the recognition that we would have no community or local economy without our full‑time residents, and we need to ensure they can continue to afford to live here,” said Metzger, who first outlined the concept in her State of the County address last month. “Many of our residents can barely afford a first home, let alone a second, and this measure will help make living here a little more affordable for them.”
Hinchey introduced the bill in the state Legislature. She said it would deliver property tax relief and make the county more affordable for full-time residents amid what she called a housing crisis in the area.
“The cost of housing in the Hudson Valley is severely out of whack with what people earn on a daily basis. We must find creative solutions to help our seniors and working people who make our communities run day in and day out, and ensure they can thrive here in our county,” Hinchey said.