New York Governor Signs Law Expanding Residential Redevelopment Inhibited Property Exemptions

The New York Governor has signed a law extending the residential redevelopment inhibited property tax exemption to all localities in the state. The law allows cities, towns, and villages to exempt qualifying neglected or abandoned residential properties from taxation when they undergo rehabilitation. The law shall take effect thirteen days after it is enacted. [A.B. 6770, enacted 10/16/25]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.