NY A09511

Authorizes the Nassau County assessor to accept a late real property tax exemption application from the Time Out Club Development Corporation for the 2007-2008 and 2008-2009 assessment rolls.

Applies to the property located at 436 S. Franklin Street in the town of Hempstead (section 36, block 3, lots 21, 22, 23 and 54).

Allows the application to be reviewed as if filed by the taxable status date, provided the organization acquired the property between the taxable status dates for those two assessment periods.

Requires Nassau County Legislature approval before the assessor may grant exemption retroactive to the property acquisition date and authorize corrections to the tax rolls.

Permits the county to refund taxes already paid by the corporation and cancel remaining unpaid taxes, fines, penalties, or interest at the discretion of the governing body or tax department.