NY S03274

Amends General Municipal Law Section 3-b to allow New York City and its counties to include a reserve for estimated uncollectible taxes in their real estate tax calculations, effective July 1, 2019.

Defines "uncollectible" as taxes that taxpayers do not pay because they cannot pay or choose not to pay.

Excludes tax abatements and exemptions from the uncollectible reserve calculation, including those authorized under Real Property Tax Law sections 467-a, 467-b, 467-c, 467-f, 467-h, 467-i, 489, 499-b and Chapter 20 section 65 of the Laws of 2015.

Allows the city to offset the uncollectible reserve by amounts collected during the fiscal year from prior tax levies, including proceeds from real property tax lien sales.