Real estate proposals to watch in New York’s budget

Gov. Kathy Hochul’s opening salvo of budget negotiations leaves tax hikes off the table and suggests tweaks to a tax incentive for renovating multifamily housing. Hochul on Tuesday proposed a $260 billion state budget for fiscal year 2027. Despite pressure from the left to increase corporate and income taxes, the governor kept rates flat, only proposing to extend the top corporate tax rate (7.25 percent) through 2029, according to an overview provided by the governor’s office. The corporate tax rate was slated to expire at the end of this year.  “This is not an austerity budget, but it is a […] This article originally appeared on The Real Deal. Click here to read the full story.