NY S04314

Expands eligibility for real property tax rebates in cities with one million or more residents to include owners of four, five, and six family residences, in addition to one, two, and three family residences and condominium/cooperative units.

Updates the rebate program to cover fiscal years beginning July 1, 2019 through June 30, 2021, with rebates up to $400 but not exceeding the annual tax liability on the property.

Allows local legislative bodies to restrict rebate eligibility to specific property types or to exclude owners receiving certain other tax benefits under real property tax law or private housing finance law.

Permits owners with tax arrears exceeding $25 to remain eligible if they have entered into an installment agreement with the city and are current on payments; any rebate received must first be applied to the installment agreement.

Changes the application deadline to March 15 of the fiscal year for which the rebate is claimed and permits applications to be filed online or by mail.