Shown verbatim: the complete text as captured from the official source posted by the New York State Senate, fetched 2026-08-11. Nothing is edited or removed. Where this bill amends existing law, language marked for deletion in the official source appears here in brackets. The official bill page.
S T A T E O F N E W Y O R K
________________________________________________________________________
6770
2025-2026 Regular Sessions
I N A S S E M B L Y
March 13, 2025
___________
Introduced by M. of A. GRIFFIN -- read once and referred to the Commit-
tee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to the applica-
bility of the residential redevelopment inhibited property exemption
to all localities in the state
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The section heading of section 485-r of the real property
tax law, as added by chapter 406 of the laws of 2015, is amended to read
as follows:
Residential redevelopment inhibited property exemption[; certain
cities].
§ 2. Subdivision 1 of section 485-r of the real property tax law, as
added by chapter 406 of the laws of 2015 and paragraph (f) as amended by
chapter 28 of the laws of 2016, is amended to read as follows:
1. As used in this section, the following terms shall have the follow-
ing meanings:
(a) "Redevelopment inhibited property" shall mean a residential prop-
erty that has been neglected or abandoned because of the local economic
conditions and/or conditions on the property that inhibit such property
from being redeveloped by the private sector AS DESCRIBED IN SUBDIVISION
THREE OF THIS SECTION. Redevelopment inhibited property shall not
include land that is undeveloped.
(b) "Gap financing costs" shall mean the total cost of the property's
redevelopment as approved by the city, TOWN, OR VILLAGE minus the
increase in the full valuation of the property upon completion of the
redevelopment.
(c) "Base assessment" shall mean the assessed value of the property on
the day the city, TOWN, OR VILLAGE designates the property as redevelop-
ment inhibited.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD10643-01-5
A. 6770 2
(d) "Increased assessment" shall mean the assessed value of the prop-
erty as determined by the assessor upon completion of the redevelopment.
(e) "Incremental increase in annual property taxes" shall mean the
taxes based on the increased assessment minus the taxes based on the
base assessment.
[(f) "City" shall mean a city with a population of not less than
fifteen thousand two hundred fifty and not more than fifteen thousand
five hundred as determined by the latest federal decennial census.]
§ 3. Subdivision 2 of section 485-r of the real property tax law, as
added by chapter 406 of the laws of 2015, is amended to read as follows:
2. A city, TOWN, OR VILLAGE may, by local law, provide for the
exemption of real property from taxation as provided in this section.
Subsequent to the adoption of such local law, the county in which such
city, TOWN, OR VILLAGE is located may after a public hearing and by
local law, and any school district, all or part of which is located in
such city, TOWN, OR VILLAGE, may, by resolution, exempt such property
from its taxation in the same manner and to the same extent as the city,
TOWN, OR VILLAGE has done.
§ 4. Subdivision 3 of section 485-r of the real property tax law, as
added by chapter 406 of the laws of 2015, is amended to read as follows:
3. A LOCAL LAW ADOPTED BY A city, TOWN, OR VILLAGE PURSUANT TO SUBDI-
VISION TWO OF THIS SECTION shall designate any property within [the]
SUCH city, TOWN, OR VILLAGE'S boundaries as a redevelopment inhibited
property if one or more of the following are met:
(a) the city, TOWN, OR VILLAGE has acquired title to the property
pursuant to article nineteen-A of the real property actions and
proceedings law; or
(b) the property has been continuously vacant for a period of at least
three years; or
(c) the COUNTY, city, TOWN OR VILLAGE IN WHICH THE PROPERTY IS LOCATED
has acquired title to the property via foreclosure for unpaid taxes
pursuant to article eleven of this chapter; or
(d) the property has outstanding zoning, housing, or uniform code
violations and the cost of remedying the violations exceeds the proper-
ty's value.
§ 5. Subdivision 4 of section 485-r of the real property tax law, as
added by chapter 406 of the laws of 2015, is amended to read as follows:
4. (a) Upon the adoption of such local law, redevelopment inhibited
property shall be exempt from taxation and special ad valorem levies to
the extent of any increase in value attributable to demolition, alter-
ation, rehabilitation, or remediation pursuant to the following require-
ments:
(i) the demolition, alterations, rehabilitation, and/or remediation
shall be permitted by the [city's] APPLICABLE bureau of inspection such
that building or plumbing permits issued and said demolition, alter-
ations, rehabilitation, and/or remediation shall have met all necessary
approvals per the applicable New York state uniform fire prevention and
building code, the [city's] APPLICABLE municipal code and the [city's]
APPLICABLE bureau of inspection upon completion; and
(ii) the property for which the exemption is sought shall be [an
owner-occupied one-family residence] A ONE TO FOUR-UNIT RESIDENCE AND
OCCUPIED AS THE PRIMARY RESIDENCE OF THE OWNER OR A TENANT; and
(iii) the owner of such property shall file annually an affidavit of
residency with the assessor of the city, TOWN, OR VILLAGE on or before
the appropriate taxable status date [of such city], confirming continued
A. 6770 3
[owner-occupancy] OCCUPANCY of the property BY THE OWNER OR A TENANT AS
THEIR PRIMARY RESIDENCE; and
(iv) the redevelopment inhibited property is exempt from taxation and
special ad valorem levies attributable to the increased assessment minus
the taxes and special ad valorem levies imposed on the base assessment.
Such exemption shall not apply to special assessments.
(b) In the event the property granted an exemption pursuant to this
section ceases to be [owner-occupied] OCCUPIED AS THE PRIMARY RESIDENCE
OF THE OWNER OR TENANT and/or the affidavit of residency is not filed
annually for the approved exemption period, the exemption granted pursu-
ant to this section shall cease.
(c) In the event the property granted an exemption pursuant to this
section ceases to be a [one-family] ONE TO FOUR-UNIT dwelling, the
exemption granted pursuant to this section shall cease.
(d) In the event the owner of the property is convicted of a violation
or misdemeanor pursuant to New York state uniform fire prevention and
building code or the [city's] APPLICABLE municipal code, the exemption
granted pursuant to this section shall cease.
§ 6. Subdivision 6 of section 485-r of the real property tax law, as
added by chapter 406 of the laws of 2015, is amended to read as follows:
6. (a) Such exemption shall be granted only upon application by the
owner of such building for the residential redevelopment inhibited prop-
erty exemption, on a form prescribed by the city, TOWN, OR VILLAGE. Such
application must be filed with the assessor of the city, TOWN, OR
VILLAGE on or before the appropriate taxable status date [of such city].
The application must be filed with the assessor of the city, TOWN, OR
VILLAGE within three years from the date of completing the demolition,
alterations, rehabilitation, and/or remediation.
(b) The owner filing for such exemption shall not be required to be
the owner responsible for completing the demolition, alterations, reha-
bilitation, and/or remediation.
(c) If the assessor is satisfied that the applicant is entitled to an
exemption pursuant to this section, [he or she] SUCH ASSESSOR shall
approve the application and such real property shall thereafter be
exempt from taxation and special ad valorem levies by the city, TOWN, OR
VILLAGE commencing with the assessment roll prepared after the taxable
status date referred to in this subdivision. The assessed value of any
exemption granted pursuant to this section shall be entered by the
assessor of the city, TOWN, OR VILLAGE on the assessment roll with the
taxable property, with the amount of the exemption shown in a separate
column.
(d) Once granted, the residential redevelopment inhibited property
exemption runs with the land for the exemption period pursuant to this
section.
§ 7. This act shall take effect on the thirtieth day after it shall
have become a law.Every fact on this page links to its source, starting with the official bill record.