NY S08554

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

Property subject to exemption is located at 1274 Utica Avenue, Brooklyn (Kings County), identified as section 03 block 4760 lot 12, 03 block 4761 lot 53, and 03 block 4761 lot 58.

Exemption may be granted under section 420-a of the real property tax law if the organization acquired title between the 2019 taxable status date and the next assessment roll's taxable status date, and would otherwise qualify for exemption.

Exemption, if approved by New York City Council, begins from the date of property acquisition and the Department of Finance may refund any taxes paid or cancel unpaid taxes, fines, penalties, and interest.

Takes effect immediately upon enactment.