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

This bill amends the real property tax law to end the tax exemption for certain real property used for home games of professional major league sports teams in New York City. The change takes effect with the 2026 assessment roll. The exemption applies to properties used by both a National Hockey League team and a National Basketball Association team, provided the teams' owners agree to play home games in the city for at least ten consecutive years. The exemption ceases if either team stops playing home games in the city.

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

This bill amends the real property tax law to end the tax exemption for certain real property used for home games of professional major league sports teams in New York City. The change takes effect with the 2026 assessment roll. The exemption applies to properties used by both a National Hockey League team and a National Basketball Association team, provided the teams' owners agree to play home games in the city for at least ten consecutive years. The exemption ceases if either team stops playing home games in the city.