Adjusts affordability option D under the affordable neighborhoods for New Yorkers tax incentive to reflect annual changes in the consumer price index.

This bill amends the real property tax law to redefine affordability option D under the affordable neighborhoods for New Yorkers tax incentive. It specifies that the affordability option will include an annual adjustment to reflect the percentage increase in the consumer price index for all urban consumers, as published by the United States Department of Labor. This adjustment ensures that the affordability criteria remain current with inflation.

Adjusts affordability option D under the affordable neighborhoods for New Yorkers tax incentive to reflect annual changes in the consumer price index.

This bill amends the real property tax law to redefine affordability option D under the affordable neighborhoods for New Yorkers tax incentive. It specifies that the affordability option will include an annual adjustment to reflect the percentage increase in the consumer price index for all urban consumers, as published by the United States Department of Labor. This adjustment ensures that the affordability criteria remain current with inflation.