New York S05549 prohibits tax exemptions for owners of vacant or unoccupied storefront properties for at least two years.

New York S05549 amends the real property tax law by adding a new section that prohibits tax exemptions for owners of commercial storefront properties that have been vacant or unoccupied for at least two years. The bill defines "vacant" as having minimal or no inanimate objects and "unoccupied" as lacking habitual presence of individuals engaged in buying, selling, or providing goods or services. This change applies immediately to assessment rolls based on taxable status dates occurring after the bill's effective date.

New York S05549 prohibits tax exemptions for owners of vacant or unoccupied storefront properties for at least two years.

New York S05549 amends the real property tax law by adding a new section that prohibits tax exemptions for owners of commercial storefront properties that have been vacant or unoccupied for at least two years. The bill defines "vacant" as having minimal or no inanimate objects and "unoccupied" as lacking habitual presence of individuals engaged in buying, selling, or providing goods or services. This change applies immediately to assessment rolls based on taxable status dates occurring after the bill's effective date.