NY S08920

Allows villages, towns, cities, counties, and school districts to defer real property tax and special ad valorem levy payments for small businesses and small landlords during the COVID-19 state disaster emergency (declared under Executive Order 202 of 2020) after holding a public hearing.

Defines "small business" as a business in New York with 20 or fewer employees and gross annual income of $3 million or less, and "small landlord" as a non-residential non-profit or commercial landlord owning and operating 50 or fewer units.

Permits taxing jurisdictions to separate deferred tax payments into multiple installment payments as needed for financial relief, with specific payment dates set in the local law or resolution, and requires all payments to be completed within 120 days of the original due date.

Waives any county liability that would normally accrue under real property tax law sections 936, 976, or 1330 due to a taxing jurisdiction's decision to defer or installment taxes under this article.

Takes effect immediately upon enactment.