NY A00600

Establishes a residential open green space tax abatement for eligible residential properties in cities with populations of one million or more persons.

Provides a tax abatement of $4.50 per square foot of residential open green space created by removing impermeable surfaces and adding soil and vegetation, capped at the lesser of $100,000 or the property's annual tax liability.

Tax abatement commences July 1 following designated agency approval and lasts for one year, with applications accepted from January 1, 2024 through March 15, 2028.

Applicants must obtain required permits and certifications, submit a maintenance plan, maintain the green space for at least three years after the compliance period, and allow inspections by the designated agency.

Abatement may be revoked if the applicant fails to maintain the property, violates applicable laws, has delinquent municipal charges for six months or more, or submits false or misleading information.