Creates the office of the cooperative and condominium ombudsman; authorizes the residential unit tax and establishes the office of the cooperative and condominium ombudsman fund.
Creates the office of the cooperative and condominium ombudsperson; authorizes the residential unit tax; establishes the office of the cooperative and condominium ombudsperson fund.
Creates the office of the cooperative and condominium ombudsperson; authorizes the residential unit tax; establishes the office of the cooperative and condominium ombudsperson fund.
Provides that the assessment of residential cooperatives, condominiums and rental property shall not apply to certain condominiums unless such condominiums are participating in an affordable housing tax credit program or has a regulatory agreement.
Relates to the disclosure of information on the fiscal health of a condominium, cooperative apartment building or cooperative community to prospective buyers, current owners and the condominium board or the cooperative board.
Abolishes the class share system and partial valuation; provides a homestead exemption and a real property tax circuit breaker abatement; repeals partial tax abatement for residential real property held in the cooperative or condominium form of ownership; defines co-ops and condominiums as class one properties.
Limits the amount of rent increases for residential ground lease cooperative apartment buildings; establishes certain rights upon the expiration of such leases.
Limits the amount of rent increases for residential ground lease cooperative apartment buildings; establishes certain rights upon the expiration of such leases.
Relates to establishing a property tax credit for class 2 cooperative and condominium buildings that are designated safe after a facade safety program inspection.