This bill authorizes the city of Yonkers to impose an additional tax surcharge on vacant and abandoned properties, allowing the total tax burden to reach up to three times the standard rate. The legislation defines vacant and abandoned land through specific criteria, such as confirmed lack of occupancy or court orders, while explicitly excluding properties under active renovation, seasonal use, or legal disputes. To ensure fairness, the city must notify property owners before designating their land as vacant, offering them a chance to contest the decision and appeal the final ruling. The new tax applies to fiscal years starting on or after July 1, 2027, and holds owners personally liable for any unpaid amounts if they fail to comply with the rules.
This bill allows the Top Community Development Corporation to apply for a real property tax exemption for a specific building in Brooklyn that it recently acquired. The legislation authorizes the city finance commissioner to review and approve this application retroactively, treating it as if it had been filed on time. If approved, the corporation could receive a refund of taxes already paid and have any associated fines or penalties canceled, provided the refund falls within a three-year limit. Essentially, the law creates a special pathway for this specific organization to correct a missed filing deadline and potentially recover past tax payments.
This bill allows local governments to create additional real property tax exemptions specifically for senior citizens with lower incomes. It authorizes municipalities to establish new income brackets below the current maximum eligibility level, offering higher tax relief percentages as household income decreases. Under the proposed schedule, households earning less than the maximum limit could qualify for exemptions ranging from 50% to 65% of their assessed property value. The changes would apply to taxable years starting on or after January 1, 2026.
This bill authorizes the city of Yonkers to impose a special tax surcharge on vacant and abandoned properties. The surcharge can be set at up to two times the standard property tax, meaning the total tax owed on such properties could reach three times the normal rate. To be subject to this fee, a property must be officially designated as vacant or abandoned based on criteria like lack of occupancy, court orders, or owner statements, while excluding homes under active renovation or occupied by family members. The city's finance department will handle the designation process, providing owners with notice and an opportunity to appeal the decision before the tax is applied.
Allows municipalities to cancel any interest and penalties on delinquent property tax payments where a property owner demonstrates extraordinary circumstances, financial hardship or a history of previous timely payment of property taxes; authorizes the commissioner of taxation and finance to promulgate rules and regulations for the application process, standards for documentation and guidance for enforcing officers.
Defines affordability option D under the affordable neighborhoods for New Yorkers tax incentive to include an annual adjustment to reflect the percentage increase in the consumer price index for all urban consumers published by the United States department of labor.
Establishes a real property tax exemption for certain property owners who reside full-time on such property in certain counties; requires that such owners occupy such property as their primary residence and are enrolled in or eligible for the STAR exemption or credit or that such owners rent to a tenant for a term of at least twelve months and such tenant occupies such property as their primary residence.
This bill, known as the RESTORE Act, offers property tax breaks to building owners in New York City who finish required exterior repairs and remove temporary sidewalk sheds within a specific timeframe. To qualify, owners must complete the work and clear the sidewalks within twelve months of starting, with the tax reduction amount decreasing gradually if they take longer than three months. Conversely, if repairs and shed removal are not finished within eighteen months, the building owner faces a property tax penalty that increases by two percent for each additional month of delay. The legislation also establishes a formal process for owners to apply for the tax relief or appeal penalties if they believe delays were caused by factors beyond their control.
Allows a real property tax exemption for dwelling units constructed for senior citizens or disabled persons receiving social security disability benefits.
This bill creates a real property tax exemption for the primary residences of surviving spouses of firefighters who died in the line of duty. It allows local governments and school districts to automatically exempt up to 50% of the assessed value of these homes from taxation, though they retain the option to reduce this percentage if they choose. The law defines eligible firefighters broadly to include paid members of various fire departments and extends the benefit to properties held in trust or by cooperative apartment corporations, while excluding certain types of housing. Additionally, the bill requires the state to develop and publish a list of documents that prove eligibility for this tax relief.
