Bill > S05549

This bill amends the real property tax law to prevent owners of vacant or unoccupied commercial storefront properties from receiving tax exemptions. Specifically, the bill defines a "commercial storefront property" as a non-residential ground floor or street-level property used for selling goods or services. The bill establishes that if such a property has been vacant (meaning minimal or no objects are present) or unoccupied (meaning no regular business activity is occurring) for at least two years, the property owner will be ineligible for any tax exemptions under the current law. The aim appears to be encouraging property owners to maintain active, productive commercial spaces and discourage long-term vacancy in commercial areas. The bill will take effect immediately and apply to assessment rolls prepared on or after its enactment date, giving local tax authorities a new tool to incentivize the use of commercial properties and potentially support local economic activity.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S5549