Redetermination of initial legal regulated rent which includes payments reserved under a tax escalation clause for housing accommodations located in a property becoming subject to reduction of real property taxes
Compiled text through Sep 15, 2021
Register checked through Jul 29, 2026
No later Register activity identified in this check.
Dates and status
- Compiling agency
- Executive Department
- Text status
- Source receipt
- Compiled text through
- Sep 15, 2021
- Register checked through
- July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
- Activity status
- No later Register activity identified in this check.
- Source snapshot
- Jun 6, 2026
Where the initial legal regulated rent for a housing accommodation includes payments reserved in the lease or other rental agreement under a tax escalation clause, whenever there is a reduction in the amounts of increases in the real property taxes which were previously in effect, the initial legal regulated rent shall be subject to redetermination to exclude such payments or such part thereof as is warranted, as provided for in sections 2503.9 and 2503.10 of this Chapter.