New York S06804 imposes a commercial vacancy tax on vacant or abandoned commercial storefronts in cities with a population of one million or more.

New York S06804 introduces a commercial vacancy tax on vacant or abandoned commercial storefronts in cities with a population of one million or more. The tax is set at one percent of the assessed value of the property. The tax applies to storefronts that are unoccupied and unsecured, secured by boarding, or unsafe. Exemptions include storefronts under repair, those actively being offered for sale or lease, and those complying with all state and local laws.

New York S06804 imposes a commercial vacancy tax on vacant or abandoned commercial storefronts in cities with a population of one million or more.

New York S06804 introduces a commercial vacancy tax on vacant or abandoned commercial storefronts in cities with a population of one million or more. The tax is set at one percent of the assessed value of the property. The tax applies to storefronts that are unoccupied and unsecured, secured by boarding, or unsafe. Exemptions include storefronts under repair, those actively being offered for sale or lease, and those complying with all state and local laws.