Establishes the residential open green space tax abatement for certain properties in a city of one million or more; provides an abatement for owners who remove an impermeable surface from a residential yard and replace it with soil and vegetation.
Summary
Bill A01889 proposes the establishment of a residential open green space tax abatement in cities with populations of one million or more. The bill allows property owners to receive a tax abatement for converting impermeable surfaces in residential yards into green spaces covered with soil and vegetation. The abatement amount is set at $4.50 per square foot of the newly created green space, with a cap of $100,000 or the total tax liability for the property, whichever is lower. The tax abatement would commence on July 1 following the approval of an application and would last for one year.
Impact
If enacted, this bill would amend the real property tax law in New York, specifically targeting urban areas with significant population density. It aims to incentivize the creation of green spaces in residential areas, potentially leading to increased urban greenery, improved air quality, and enhanced community aesthetics. The bill also outlines the process for application, compliance, and revocation of the tax abatement, which will involve oversight from designated city agencies.
Sentiment
The general sentiment around Bill A01889 appears to be positive, as it aligns with growing urban sustainability initiatives and community beautification efforts. However, the absence of voting history and committee discussions makes it difficult to gauge the full spectrum of opinions from lawmakers and stakeholders.
Contention
Notable points of contention may arise regarding the specifics of the implementation, such as the criteria for eligibility and the administrative burden on designated agencies. Concerns may also be raised about the potential financial impact on city budgets due to the tax abatements, particularly in densely populated urban areas where property taxes are a significant revenue source.
Establishes the residential open green space tax abatement for certain properties in a city of one million or more; provides an abatement for owners who remove an impermeable surface from a residential yard and replace it with soil and vegetation.
Relates to increasing the amount of the childcare center tax abatement for certain properties in a city having a population of one million or more for abatements taken in a tax year commencing on or after July first, two thousand twenty-five; provides that no such childcare center tax abatement shall be authorized for any tax year commencing on or after July first, two thousand thirty-two; extends the deadline for application for such childcare center tax abatement to March fifteenth, two thousand twenty-seven.
Relates to increasing the amount of the childcare center tax abatement for certain properties in a city having a population of one million or more for abatements taken in a tax year commencing on or after July first, two thousand twenty-five; provides that no such childcare center tax abatement shall be authorized for any tax year commencing on or after July first, two thousand thirty-two; extends the deadline for application for such childcare center tax abatement to March fifteenth, two thousand twenty-seven.
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.
Relates to creating the Neighborhood Small Business Rent Increase Exemption; provides a tax abatement for limiting rent increases on small businesses in a city of one million or more persons.