NY S06740

Authorizes the assessor of the town of Islip to accept a late application for real property tax exemption from New Hope International Ministries, Inc. for the 2015-2016 assessment roll.

Property subject to exemption is located at 42 2nd Avenue in the hamlet of Bay Shore, town of Islip, identified as tax map number 0500 393.00 03.00 073.000.

The assessor may grant exemption if the not-for-profit organization acquired title to the property between the 2015-2016 taxable status date and the next assessment roll's taxable status date, and would otherwise qualify for exemption.

Exemption, if granted, begins on the date of the organization's property acquisition, and the town may refund any taxes already paid, including amounts held in escrow, and cancel unpaid taxes, fines, penalties, or interest.

Act takes effect immediately upon enactment.