NY S07285

Expands the residential redevelopment inhibited property tax exemption, previously limited to cities with populations between 15,250 and 15,500, to all cities, towns, and villages statewide

Allows local governments to designate properties as "redevelopment inhibited" if they were acquired through tax foreclosure, have been vacant for at least 3 years, were obtained through in rem proceedings, or have code violations exceeding the property's value

Broadens eligibility from owner-occupied single-family residences to one-to-four unit residences occupied as the primary residence of either the owner or a tenant

Requires property owners to file annual affidavits of residency confirming continued occupancy to maintain the exemption, which terminates if residency requirements are not met or code violations occur

Takes effect 30 days after becoming law