Establishes a tax on certain vacant residential properties in the city of New York

This bill would require New York City property owners to pay a tax on residential properties left vacant for 180+ days. The tax starts at 1.5% of the property's value for the first two years of vacancy, rising to 3% after two years. It includes exemptions for new constructions (built within a year), properties of recently deceased owners, homes undergoing permitted renovations, and properties where occupants moved to care facilities. Property owners must provide documentation like utility bills or leases to claim exemptions, and revenue would fund tax credits for non-vacant properties.