Prohibits the city of New York from increasing property taxes where a property's assessed value has decreased in the previous year; applies only to class one and class two properties.
Relates to property tax exemptions for nonprofit organizations; allows for nonprofit organizations to file an application for an exemption with the assessor no later than the taxable status date applicable to the following year's assessment roll where such nonprofit organization has purchased property after the taxable status date but prior to the levy of taxes.
Enacts the "sewage flooding prevention act"; authorizes certain homeowners and not-for-profit agencies in New York City to receive an abatement of real property taxes up to two thousand dollars for the cost of installing sewer improvement check valve devices on certain dwellings; directs the New York City department of environmental protection to promulgate any necessary rules and regulations.
Removes certain soil depth requirements; raises the tax abatement rate of non-priority; extends the application deadline from 2023 to 2026 for purposes of the green roof tax abatement for certain properties in a city of one million or more persons.
Provides that the amount of a STAR real property tax savings may not be less than the amount of the STAR real property tax savings from the previous year.
Authorizes the Grace Gospel Church of Suffolk, Inc. to file an application for retroactive real property tax exemption for the 2020--2021 and 2021--2022 assessment rolls.
Classifies properties held in condominium and cooperative form for assessment purposes as class one-a properties; requires that the annual tax rate percentage change for class one-a properties does not exceed the annual tax rate percentage change for class one properties.
Authorizes the county of Nassau assessor to accept an application for a real property tax exemption from Innovative Resources for Independence for a portion of the 2021 school taxes, all of the 2022-2023 school taxes and all of the 2022 general taxes.
Provides that a taxing jurisdiction which has opted out of the exemption from taxation for certain energy systems may not offer the exemption for specific or single projects; requires that a jurisdiction which changes its status relating to the exemption must do so within 120 days prior to the taxable status date; provides that such change shall be valid for one year.
Authorizes the assessor of the town of Babylon to accept an application for exemption from real property taxes from Phoenix Houses of Long Island, Inc.