New York A07066 imposes a fine on cooperative apartment corporations that fail to credit the STAR exemption to tenant-stockholders.

New York A07066 amends the real property tax law to impose a civil penalty of up to $500 for each violation where a cooperative apartment corporation fails to credit the STAR exemption to tenant-stockholders. The penalty can be recovered by the county attorney or corporation counsel. Tenant-stockholders can withhold payments to the cooperative apartment corporation until the credit is applied. The remedies are stayed if the cooperative apartment corporation contests the tax bill. The act applies to the 2025-2026 school year.

New York A07066 imposes a fine on cooperative apartment corporations that fail to credit the STAR exemption to tenant-stockholders.

New York A07066 amends the real property tax law to impose a civil penalty of up to $500 for each violation where a cooperative apartment corporation fails to credit the STAR exemption to tenant-stockholders. The penalty can be recovered by the county attorney or corporation counsel. Tenant-stockholders can withhold payments to the cooperative apartment corporation until the credit is applied. The remedies are stayed if the cooperative apartment corporation contests the tax bill. The act applies to the 2025-2026 school year.