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NY A05488
Bill
Status
Introduced
2/24/2015
Primary Sponsor
Bill Nojay
Click for details
AI Summary
- Amends Section 722 of the Real Property Tax Law to add a new subdivision 3
- Entitles property owners to interest on refunded amounts when a challenged assessment is reduced
- Sets the interest rate equal to the annual rate charged by the refunding unit for late payment of real property taxes
- Takes effect immediately upon enactment
Legislative Description
Provides that if an assessment is challenged and ultimately reduced, the petitioner is entitled to interest on the refunded amount.
Last Action
enacting clause stricken
9/19/2016
Committee Referrals
Real Property Taxation2/24/2015
Full Bill Text
No bill text available