New York S08527 allows local governments to extend the clergy residential property tax exemption to include clergy residing in co-ops.

New York S08527 amends the real property tax law to permit local governments to extend the existing clergy residential property tax exemption to include clergy residing in co-ops. This bill clarifies that the clergy property tax exemption shall not affect eligibility for certain other tax abatements. The exemption applies to real property owned by a cooperative apartment corporation in which a tenant-stockholder resides and is represented by their share or shares of stock in the corporation. The bill takes effect immediately.

New York S08527 allows local governments to extend the clergy residential property tax exemption to include clergy residing in co-ops.

New York S08527 amends the real property tax law to permit local governments to extend the existing clergy residential property tax exemption to include clergy residing in co-ops. This bill clarifies that the clergy property tax exemption shall not affect eligibility for certain other tax abatements. The exemption applies to real property owned by a cooperative apartment corporation in which a tenant-stockholder resides and is represented by their share or shares of stock in the corporation. The bill takes effect immediately.