New York A03878 allows localities to exempt child day cares from real property taxation up to 50% of assessed value.

New York A03878 amends the real property tax law to allow localities to exempt child day cares from taxation up to 50% of the assessed value. This exemption requires approval by a local legislative body or school district governing board. If the property ceases to be used for child day care, the exemption ends. The term "child day care" is defined by the social services law. The act takes effect immediately.

New York A03878 allows localities to exempt child day cares from real property taxation up to 50% of assessed value.

New York A03878 amends the real property tax law to allow localities to exempt child day cares from taxation up to 50% of the assessed value. This exemption requires approval by a local legislative body or school district governing board. If the property ceases to be used for child day care, the exemption ends. The term "child day care" is defined by the social services law. The act takes effect immediately.