Expands the residential redevelopment inhibited property exemption to all cities, towns, and villages in New York.

This bill amends the real property tax law to expand the applicability of the residential redevelopment inhibited property exemption to all cities, towns, and villages in New York. It modifies the definition and criteria for such properties, ensuring they are eligible for tax exemptions if they meet specific conditions, such as being neglected or abandoned due to local economic conditions. The exemption applies to one to four-unit residences occupied by the owner or tenant.

Expands the residential redevelopment inhibited property exemption to all cities, towns, and villages in New York.

This bill amends the real property tax law to expand the applicability of the residential redevelopment inhibited property exemption to all cities, towns, and villages in New York. It modifies the definition and criteria for such properties, ensuring they are eligible for tax exemptions if they meet specific conditions, such as being neglected or abandoned due to local economic conditions. The exemption applies to one to four-unit residences occupied by the owner or tenant.