“Mansion Tax” to Help Low-Income Seniors, Vets

New York City’s proposed “Mansion Tax” will help fund a new Elder Rent Assistance program serving more than than 25,000 seniors with rental assistance of up to $1,300 a month.

“We are taking our record progress on affordable housing and driving it even deeper. This crisis is hitting seniors on fixed incomes, veterans and struggling families especially hard. We’re fighting for their right to live in this city,” said Mayor Bill de Blasio. He announced the initiatives in his State of the City address Feb. 13.

New York City also plans to create 10,000 affordable apartments through its Housing New York program geared toward households earning less than $40,000. Of those, 5,000 apartments will be dedicated to seniors, with another 500 for veterans.

For comments, questions or concerns, please contact Bendix Anderson

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