New York Gov. Kathy Hochul signed legislation allowing local governments to offer property-tax exemptions of up to 65% for eligible senior homeowners, raising the previous cap from 50% for the first time in decades. Under the measure, known as S5175A/A3698A, municipalities can set income limits and other criteria to determine who qualifies, with state officials estimating potential savings of about $300 a year for the average senior on a fixed income. The change is aimed at helping roughly 1.8 million older New Yorkers remain in their homes amid rising housing costs and inflation, and comes as part of a broader affordability push that includes middle-class tax cuts, expanded child tax credits, inflation rebate checks and free school meals for all K–12 students.
Governor Hochul Authorizes Real Property Tax Exemptions for New York Seniors
Governor Kathy Hochul signed legislation that enhanced real property tax exemptions for New York seniors. Legislation S5175A/A3698A allows localities to provide a real property tax exemption for senior citizens who meet the income eligibility limits, among other criteria, up to 65 percent percent of the assessed valuation of their properties. This legislation builds on the Governor’s affordability agenda, which included tax cuts for middle-class New Yorkers.
“No New York senior should lose their home because they can no longer afford their property taxes,” Governor Hochul said. “By signing this legislation, we are working to make New York more affordable for our seniors on fixed incomes and empowering them to age in place, at home, in the communities they know and love.”
The bill will give localities the option to offer real property tax exemptions of up to 65 percent to seniors living below the maximum income eligibility level set by the locality. Prior to, the maximum percentage of exemption local governments have been able to offer senior citizens was set at 50 percent and has not been raised in decades. Increasing the exemption from 50 percent to 65 percent could translate into savings of up to $300 annually for the average senior.
New York State Office for the Aging (NYSOFA) Acting Director Greg Olsen said, “Governor Hochul is coming through yet again on making New York more affordable for individuals and their families. Property taxes, especially for those on fixed incomes, can often be difficult to afford. With more than 1.8 million older adults who own their own homes, this important law will continue to help older adults remain in the homes and communities of their choice and keeping their vast contributions within New York State.”
State Senator Leroy Comrie said, “Seniors have faced rising housing costs and inflation— oftentimes living on fixed income. Signing S5175A into law is an important step toward restoring real affordability for older adults across New York. This law allows localities to offer up to a 65 percent discount to eligible seniors so long-time homeowners can remain in their communities with dignity and security. I thank Governor Hochul, my colleagues and especially Assemblymember David Weprin for partnering to deliver meaningful support for the New Yorkers who helped build this state.”
Assemblymember David Weprin said, “I’m grateful for Governor Kathy Hochul’s commitment to improving affordability for all New Yorkers, including our senior citizen homeowners. By advancing this bill into law, we will provide relief from the burden of increasing real property taxes and ensure stability for elderly homeowners on low fixed incomes. I look forward to continued partnership with Governor Hochul and my fellow elected leaders to advance this critical affordability agenda.”
This legislation builds on Governor Hochul’s affordability agenda, which includes:
Middle-Class Tax Cut: Approximately 8.3 million New Yorkers will benefit from decreased tax rates, bringing middle-class taxes to their lowest levels in 70 years.
Child Tax Credit Expansion: The Child Tax Credit is increasing to up to $1,000 per child under the age of four and up to $500 for school-aged children, starting in 2026.
Inflation Refund Checks: Eligible New Yorkers have received up to $200 per person or $400 per family, reaching 8.2 million people.
Free School Meals: All K-12 students now have access to free breakfast and lunch, saving families up to $1,600 per child annually.
A shocking attack in the New York City subway has raised new fears about rider safety. Police say 18-year-old Manhattan resident Hiram Carrero allegedly set a sleeping homeless man on fire in a No. 3 train car around 3 a.m. The incident happened near Times Square/Penn Station. The 56-year-old victim suffered serious burns but is expected to survive, according to the NYPD.
The suspect, who was seen in surveillance video, was later perp walked out of the 9th Precinct after his arrest. Carrero has been identified by police and is being charged with attempted murder, three counts of assault, arson, and reckless endangerment. The case has quickly become another example used in the debate over crime and safety in the NYC subway system.
New York Congresswoman Nicole Malliotakis called the attack “horrific” and says it proves that the subway is still not truly safe. She notes that the NYPD is thousands of officers below past staffing levels and argues that more police are needed on trains and platforms. In Congress, Malliotakis is pushing a bipartisan transit security bill to increase federal funding for subway safety, including more officers, better lighting, more cameras, and upgraded surveillance systems to protect riders and the city’s most vulnerable residents.
At CAM’s 2025 North American Mayors Summit Against Antisemitism, Mayor Eric Adams gave a powerful speech asking people to stop “outrunning the lion” of hate and instead work together to remove it from our communities. He said that while many groups face hate and injustice, this moment is focused on fighting antisemitism, especially in New York City where Jews are a small part of the population but suffer more than half of all hate crimes. Adams urged everyone—teachers, faith leaders, and community organizations—to “play their position” by pushing back against antisemitism, misinformation, and the radicalization of young people. He announced an executive order against BDS and confirmed that New York City will keep investing pension funds in Israeli companies. Adams also reminded people of the long history of Jewish support for Black civil rights and called on Jewish communities to stand proudly and openly as Jews. He ended by saying he is willing to “leave everything on the ice” in the fight against hate and asked everyone to “lace up their skates” and join him.
Transcript: Mayor Adams Delivers Remarks at CAM’s 2025 North American Mayors Summit Against Antisemitism Closing Gala Dinner
Mayor Eric Adams: Thank you so much, mayor. Throughout this afternoon, you shared something that resonated with me, and I’m hoping people didn’t miss it. A good friend of mine, Rabbi Potasnik, told me a joke about two lions. Two hunters in a jungle, hunting for big game, they came up against a lion. One hunter looked at the other and said, “Let’s run, let’s get out of here.” The other hunter replied, “What’s wrong with you, we can’t outrun a lion.” The hunter replied, “I don’t have to outrun the lion, I have to outrun you.”
And when Rabbi Potasnik told me the story, I laughed, and he had this look on his face. He said, “That’s the problem. We’re trying to outrun each other.” Yes, the lion of foreclosure took your home, but I have my home, I outran that lion. The lion of crime may have taken your child, but I outran that lion. The lion of poverty, the lion of domestic violence, the lion of hatred. As long as I outrun that lion, I’m alright.
But what the hunter did not understand is, that if you don’t take the lion out of the jungle after he devours one hunter, he’s going to devour you. You were so right. The goal is not to outrun each other. The goal is to remove the lion of hatred from our community. That’s the goal.
If you go back to what Lyndon B. Johnson did in 1964 when he signed the Civil Rights Act, there were Jewish brothers and sisters that didn’t say, “Well, that had nothing to do with me.” When you look in 2013 and the Black Lives Matter movement took place after we saw the devastation, murder of a young man in Florida, and people used to say to Black folks who said Black lives matter, they said, well, all lives matter. Well, right now we’re not talking about all lives, we’re talking about Black lives.
And so, when we come to a conference and talk about combating antisemitism, don’t start telling me about other issues. Right now, we’re talking about antisemitism. And talking about a specific incident during a time does not dismiss the other incidents. Yes, we know we have other issues, but right now the focus is on antisemitism. That’s what it’s on.
And we can engage in other conversations. I’m going to continue to lift up my Asian brothers and sisters that are dealing with Asian violence. I’m going to continue to lift up the overproliferation of abuse in young African American males and the incarceration of them. I’m going to continue to lift up what’s happening with men and women of the LGBTQ+ community. We’re going to continue to do that.
But right now we’re in this stadium talking about antisemitism. And we need to be focused on what is happening, particularly in New York City, where you have a numerical minority of the community from the Jewish community and over 50 percent of the victims are Jewish people of hate crimes. That’s a real issue. And what we must focus on is to be laser focused on that. Because when we marry talking about this issue and bridging it with the other issues that we’re facing, we will raise the standard of who we are as human beings.
But how do we do it? That’s why I grabbed the football. This is a team sport, folks. If I’m the quarterback, you should not be the running back standing behind the center. Get your ass out of the way. Each player, play your position. We all got to play our positions.
If you are a teacher, you need to be in our public school system pushing back on the radicalization of our young people who not only hate Israel, they hate America because they were taught to hate America. That’s what we saw on the Columbia campus when the protests took place. We saw flyers that said hatred for Israel and hatred for America. Now, I don’t know who’s in this room, but I think you are Americans, right?
So, my educators must play their role. My faith-based leaders, play your position. You’re not the mayor. Be the rabbi, be the preacher, be the monk, be a Sikh leader. Play your position. And to my organizations, play your positions. Play your roles. And stand outside your comfort zones. Because if all we do all the time is speak to the same people, the choir heard the song, folks. It’s time to sing to those who are singing off-key so they can learn the lyrics and chorus of ending hate in our city and in our country.
And then let’s be honest with ourselves. Folks have been hating Jews for a long time. Our Jewish brothers and sisters have been fleeing and running from the days of Moses to when Columbus left Spain and Jews had to get out because of the edict, to being in Rome and watching the Jewish quarter. You can go over and over and over again to see how Jewish people have fled and ran from particular places.
And I’m saying to my Jewish brothers and sisters, your legacy in this generation is to say we run no more. We stand and fight. We don’t live in fear hoping that it goes away. We don’t allow certain groups to take to the streets and determine that you should be eradicated. And you’re sitting back contemplating what block you take off your yarmulke or what morning you remove your star of David. If you want to win this fight, then you need to stand up, stand firm, and say, “I am Jewish and there’s not a darn thing you can do about it.”
And you need to be strong in your faith and your belief. And people should see it in your presence and in your posture and in your stance. And that’s what we must do as a team. And then you need to lift up those who stand with you and let them know you support them. Because many of these mayors in this room will lose their races because they’re standing tall with you and not with the numerical loud minority that have hijacked the narrative.
They will be targeted, they will be focused, and they will go after them one at a time. That’s the hate that has swept our entire country and globe. You are being targeted. And we have to be as intelligent and as focused, as strategic as possible. That’s why we put the IHRA definition in place in New York City.
That’s why I am signing an executive order today to deal with BDS so we can stop the madness that we should not invest in Israel. That is why we’re going to sign an executive order stating that our pension funds will invest in Israeli companies because we’re getting a high return on our investment because they’re doing the right thing.
But Israel and Jews must tell their story. When I talk about ending antisemitism, you know what I talk about to that young African American man that’s in Brownsville? I tell him about the device that was discovered in Israel that helped his mother deal with a medical condition that she’s facing.
When I talk about ending hatred, you go look at who has the highest number of Nobel Peace Prize winners. Go look at the technology that’s coming out of Israel today because of the partnership that we have with New York City and Israel that is saving the lives of people from communities across the globe.
So, when you eradicate Israel and when you put them on an island and don’t allow their companies to go to trade shows and don’t allow their companies to participate in innovation, it is impacting us directly because it impacts us every day and the health and welfare of our communities. That’s what we have to do today. Don’t just talk about stopping antisemitism because it stops attacks on Jewish people. Stop antisemitism because we are all connected together and we’re all involved in this together.
I was sitting in a restaurant, as I conclude. It must have been October 10th. I’m sitting down at the table having a meal and a young African American woman walked in with a Howard University shirt on. She looked at me and said, “You’re one of those Zionist lovers. We know what you’re about. I just came from the march. We know what you are about.”
And while she’s saying that, I’m on my phone. I’m Googling Howard University. And I handed her my phone. And she looked at the founder of Howard University, Julius Rosenwald. And I told her, “Read on.” And she read on and she looked at the fact that almost 40 percent of the children in the Deep South were educated in schools that he opened, a Jewish philanthropist.
When segregation was the norm in the Deep South, he was opening schools so Black and Brown children could go to school and become teachers and educators to go into the Black and Brown communities and deal with segregation. And I said, “Read on.” And she saw how he was one of the original co-founders of the NAACP.
And I said, let’s go talk about the two Jewish young men who were down in Mississippi and lost their lives. But let’s not stop there. Let’s talk about when young white students went to the Deep South, 51 percent of them were Jewish, putting their lives on the line. And so yes, call me a Zionist. But what you can’t call me is mis-educated. And if you are going to denounce what gave birth to the college that you’re in right now, then they’re not educating you.
So, the next time you go in the street to celebrate October 7th, buy a plane ticket and go see what happened there. The next time you believe that you should eradicate from the river to the sea, first know where on the map you’re talking about. The next time you want to align yourself with groups who are proliferating hatred and talking about genocide, go look at what’s happening in Sudan and the thousands of lives that are being lost.
Lift up your educational understanding so you can properly fight a fight on the right side of the issue. That’s where we are missing this. They have indoctrinated and radicalized our children in the social media generation that is taking them down the road of devastation, of not knowing who their allies and brothers and sisters have historically been.
And you’re right, mayor. You are our cousins. You marched with us for Dr. King. You committed and volunteered your lives throughout the generations to stand side by side. But now your story can no longer be a tree that falls in a forest where no one hears a sound. It’s time for you to tell your story. Because if you don’t tell your story, people will distort your story.
So, I’m going to play my position. I may not be the best at it, but I’m going to do everything possible. We had a hockey player called Wayne Gretzky. They called him the ‘Great One.’ I loved his story. Wayne lost his first Stanley Cup. That’s a championship for hockey players. And he went into his locker room and all his teammates were pointing the finger at each other. “Who missed the puck? Who didn’t do their job?”
And then Wayne, being the gentleman that he is, walked down the hall to the opposing team’s locker room. It was quiet. He thought they went home. He peeked his head inside. They were laid out on the benches, bloody and bruised. They left everything they had on the ice. He knew then, that’s how you win.
And I don’t know what’s going to happen in the future. But I’m going to fight hate. And I’m going to be battered, I’m going to be bruised. I’m going to leave everything I have on the ice. And all I’m asking all of you, lace up your skates and get on this ice with me. And let’s win.
Gen Z is driving a major shift away from traditional ownership and toward a rental-first lifestyle, according to a Fox Business discussion on the growing “rental boom.” Young consumers are now renting everything from clothes and kids’ strollers to glassware, treating access as more important than possession. What older generations might see as a financial red flag, many Gen Zers now see as a smart, flexible way to live—one that allows them to enjoy variety and convenience without long-term commitment or big upfront costs.
The panel highlighted that this rental trend has both lifestyle and environmental benefits. Renting fashion and children’s toys, for example, keeps items in circulation longer and reduces waste compared to fast fashion that ends up in landfills after just a few wears. At the same time, there’s still tension between the pride and responsibility that comes with owning assets and the ease of simply renting what you need, when you need it. The guests cautioned against calling things like clothes or shoes “assets,” noting that most people don’t recoup much value when they try to resell them.
Technology is the backbone of this new rental economy. Subscription platforms and apps now make it easy to rent clothes, accessories, and even household items on demand, in much the same way services like Uber and Airbnb reshaped transportation and travel. Companies such as Nuuly, FashionPass, and rental programs by major brands leverage cloud-based technology to manage inventory, logistics, and customer preferences at scale. The result is a fast-growing business model where Gen Z can constantly refresh their lifestyle—wardrobes, baby gear, and more—without needing to own it all.
