NY S05934

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

Allows the exemption application to be reviewed as if filed by the taxable status date, provided the corporation acquired the property between the 2019 and subsequent assessment roll taxable status dates and would otherwise qualify for exemption.

Requires NYC Council approval before the Department of Finance may grant the exemption retroactive to the date of property acquisition.

Permits the Department of Finance to refund taxes paid on the 2019 roll and cancel any unpaid taxes, fines, penalties, or interest at its discretion.