The Rent Guidelines Board in Kingston, NY this week approved a 15% rent reduction that applies to renters of 1,200 apartments in 64 rent-stabilized buildings with leases between Aug. 1, 2022 and Sept. 30, 2023.

The board also established a three-year "look-back" period for tenants to challenge their base rent if they believe it exceeded the fair market price. Future adjustments would be applied to the lower rent if the challenge is successful.

The rollback comes about four months after Kingston, a Hudson Valley city about halfway between NYC and Albany, became the only municipality north of NYC's northern suburbs to embrace rent stabilization, which was permitted by a state rent law in 2019.

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