Provides tax abatements for building owners in a city having a population of one million or more who complete facade repairs.

The bill amends the real property tax law to provide tax abatements for building owners in cities with a population of one million or more who complete exterior repairs to covered buildings. Covered repairs include those required due to unsafe conditions or made to prevent such conditions, which may necessitate sidewalk sheds. The abatement is calculated based on the lesser of the repair costs or the property taxes for the year repairs were completed. The abatement percentage decreases the longer the repairs take, with no abatement if repairs are not completed within twelve months.

Provides tax abatements for building owners in a city having a population of one million or more who complete facade repairs.

The bill amends the real property tax law to provide tax abatements for building owners in cities with a population of one million or more who complete exterior repairs to covered buildings. Covered repairs include those required due to unsafe conditions or made to prevent such conditions, which may necessitate sidewalk sheds. The abatement is calculated based on the lesser of the repair costs or the property taxes for the year repairs were completed. The abatement percentage decreases the longer the repairs take, with no abatement if repairs are not completed within twelve months.