New York’s New 2026 Money Laws: Cash Protections and Senior Tax Relief Explained
New York is rolling out two major consumer-friendly laws in 2026 that could change how residents pay at stores and how senior homeowners manage their property taxes.
Beginning March 20, every retailer in New York must accept cash for in-person purchases. Stores also cannot charge cash users more than those paying by card, nor can they use rounding practices that consistently push totals up. This comes as the U.S. stops minting pennies, raising concerns about fairness at the register.
At the same time, New York will expand its senior property-tax exemption. Qualifying older homeowners may receive up to a 65% exemption on assessed value, an increase from the previous 50% ceiling. For many households, this could mean savings of up to $300 annually, offering relief amid rising home values and local taxes.
Together, these rules aim to protect affordability and prevent older and unbanked New Yorkers from falling behind as the state modernizes its consumer policies.
Many of these changes align with broader shifts in state and federal money laws taking effect nationwide, as detailed in our 2026 money law overview.
