Bill > S01122

This bill proposes to extend the benefits of the STAR (School Tax Relief) program to small businesses by modifying the Real Property Tax Law. Specifically, the bill defines a small business as an enterprise that employs one hundred persons or less and allows such businesses to qualify for property tax exemptions previously reserved for residential properties. The bill amends existing language to include small businesses among the types of properties eligible for STAR program benefits, alongside one, two, or three-family residences, farm dwellings, and residential properties in condominium or cooperative ownership. Under the proposed changes, small businesses would be able to receive property tax exemptions even if the property is not used as a primary residence, which is a key departure from the current law that typically requires the property to serve as an owner's primary residence. The bill would take effect immediately and apply to all taxable years beginning on or after January 1, 2025, potentially providing tax relief for qualifying small businesses across New York State.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S1122