Increases the childcare center tax abatement for certain properties in New York City, extends the application deadline, and prohibits future.

New York A08028 amends the real property tax law to increase the amount of the childcare center tax abatement for certain properties in a city with a population of one million or more. The bill raises the abatement limit to $70,000 or the property's real tax liability, whichever is less, for abatements taken starting July 2025. It also extends the application deadline for such abatements to March 15, 2027. The bill prohibits any childcare center tax abatements starting July 2032.

Increases the childcare center tax abatement for certain properties in New York City, extends the application deadline, and prohibits future.

New York A08028 amends the real property tax law to increase the amount of the childcare center tax abatement for certain properties in a city with a population of one million or more. The bill raises the abatement limit to $70,000 or the property's real tax liability, whichever is less, for abatements taken starting July 2025. It also extends the application deadline for such abatements to March 15, 2027. The bill prohibits any childcare center tax abatements starting July 2032.