NY S04998

Extends the partial real property tax abatement program for condominiums and cooperatives to fiscal years commencing in calendar years 2015, 2016, 2017, 2018, and 2019 (previously limited to 2012-2014)

Maintains eligibility requirement that unit owners own no more than three dwelling units in a single building, with one being their primary residence, to receive abatement under paragraphs (d-1) through (d-4)

Sets abatement rates for 2015-2019 fiscal years at 28.1% for properties with average unit assessed value ≤$50,000; 25.2% for $50,000-$55,000; 22.5% for $55,000-$60,000; and 17.5% for properties >$60,000

Requires applications for fiscal years 2015-2017 to be submitted no later than March 15 of each respective calendar year

Allows the commissioner of finance to require dwelling unit owner applications instead of or in addition to board applications for fiscal years commencing in 2015 or later, and permits rules that eliminate annual application filing requirements