NY A10824

Authorizes the NYC Department of Finance commissioner to accept a late real property tax exemption application from Top Community Development Corporation for the 2019 assessment roll.

Applies to property located at 1274 Utica Avenue in Brooklyn (Kings County), identified as section 03 block 4760 lot 12, 03 block 4761 lot 53, and 03 block 4761 lot 58.

Allows the application to be reviewed as if filed by the taxable status date, provided the corporation acquired title between the 2019 and next assessment roll taxable status dates and would otherwise qualify for exemption under Real Property Tax Law section 420-a.

Grants exemption from all taxation beginning with the property acquisition date upon NYC Department of Finance approval and City Council approval, with discretionary refund of taxes paid and cancellation of unpaid taxes, fines, penalties, or interest.

Takes effect immediately upon enactment.