Authorizes cities having a population of one million or more to provide a rebate during a specified city fiscal year of a portion of the real property taxes on owner occupied 1, 2, 3, 4, 5 or 6 family residential real property, or residential real property held in the condominium or cooperative form of ownership.
Authorizes cities having a population of one million or more to provide a rebate during a specified city fiscal year of a portion of the real property taxes on owner occupied 1, 2, 3, 4, 5 or 6 family residential real property, or residential real property held in the condominium or cooperative form of ownership.
Extends certain provisions relating to a partial tax abatement for residential real property held in the cooperative or condominium form of ownership in a city having a population of one million or more.
Extends certain provisions relating to a partial tax abatement for residential real property held in the cooperative or condominium form of ownership in a city having a population of one million or more.
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.
Exempts real property owned or leased by a cooperative corporation or on a condominium basis located in a city with a population of one million or more from certain assessment provisions.
Directs a city with a population of one million or more to reduce its real property tax levy for the 2024 fiscal year by an amount not less than the real property tax increase authorized pursuant to local law 40 of the city of New York for the year 2002.