NY A10485

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, Brooklyn (Kings County), identified as section 03 block 4760 lot 12, block 4761 lot 53, and block 4761 lot 58.

Exemption may be granted under Real Property Tax Law section 420-a if the corporation acquired the property between the 2019 and subsequent taxable status dates and would otherwise qualify, subject to NYC City Council approval.

Allows exemption to begin from the date of property acquisition and permits the Department of Finance to refund taxes paid, including escrowed amounts, and cancel unpaid taxes, fines, penalties, or interest.

Takes effect immediately upon enactment.