Discontinues the real property tax exemption for certain professional sports teams' home games in New York City starting with the 2026 assessment.

This bill amends the real property tax law to end the exemption for real property used for home games by certain professional sports teams in New York City. Specifically, it targets properties used by both a National Hockey League team and a National Basketball Association team. The tax exemption will expire with the 2026 assessment roll. The revenue and penalties collected for such properties will be remitted to the Metropolitan Transportation Authority. The changes apply to assessment rolls beginning with the 2026 assessment roll.

Discontinues the real property tax exemption for certain professional sports teams' home games in New York City starting with the 2026 assessment.

This bill amends the real property tax law to end the exemption for real property used for home games by certain professional sports teams in New York City. Specifically, it targets properties used by both a National Hockey League team and a National Basketball Association team. The tax exemption will expire with the 2026 assessment roll. The revenue and penalties collected for such properties will be remitted to the Metropolitan Transportation Authority. The changes apply to assessment rolls beginning with the 2026 assessment roll.