New York A00669 imposes a commercial vacancy tax on vacant or abandoned commercial storefronts in cities with a population of one million or more.

New York A00669 amends the tax law by adding a new article imposing a commercial vacancy tax. This tax applies to vacant or abandoned commercial storefronts in cities with a population of one million or more. The tax is equal to one percent of the assessed value of the property, which includes the vacant or abandoned commercial storefront. Exceptions include storefronts with valid building permits, those actively being offered for sale or rent, and those that comply with local laws and are ready for occupancy.

New York A00669 imposes a commercial vacancy tax on vacant or abandoned commercial storefronts in cities with a population of one million or more.

New York A00669 amends the tax law by adding a new article imposing a commercial vacancy tax. This tax applies to vacant or abandoned commercial storefronts in cities with a population of one million or more. The tax is equal to one percent of the assessed value of the property, which includes the vacant or abandoned commercial storefront. Exceptions include storefronts with valid building permits, those actively being offered for sale or rent, and those that comply with local laws and are ready for occupancy.