NY S04181

Adds "demolition costs" as a lien on residential property in New York City, defined as charges imposed for demolishing residential buildings deemed unsafe due to arson.

Caps demolition costs billed to property owners at no more than 25 percent of the total insurance settlement received from their insurance carrier.

Exempts arson-related demolition cost billing if the arson was committed by the legal owner or an occupant of the residential property.

Prohibits the city from selling property containing one, two, or three-family units as a tax lien for demolition costs for ten years; allows owners ten years to cure back taxes and existing liens with interest fees waived.

Requires the Commissioner of Buildings to report all demolition costs to the Commissioner of Finance as they become due.