New York A01193 provides a tax abatement for lead-based paint remediation in residential rental properties.

New York A01193 amends the real property tax law to offer a tax abatement for the cost of lead-based paint remediation in eligible residential rental properties. The abatement applies to the reasonable and necessary costs directly attributable to the remediation. Eligible properties must be residential rental buildings, excluding hotels or motels. The abatement is granted upon application by the property owner and requires documentation of the remediation work, costs, and compliance with applicable laws.

New York A01193 provides a tax abatement for lead-based paint remediation in residential rental properties.

New York A01193 amends the real property tax law to offer a tax abatement for the cost of lead-based paint remediation in eligible residential rental properties. The abatement applies to the reasonable and necessary costs directly attributable to the remediation. Eligible properties must be residential rental buildings, excluding hotels or motels. The abatement is granted upon application by the property owner and requires documentation of the remediation work, costs, and compliance with applicable laws.