NY S00606

Allows counties to adopt local laws setting interest rates on late property tax payments and delinquent taxes, in addition to existing authority granted to cities.

Exempts owner-occupied residential properties from the 5 percent penalty added to unpaid taxes when they become delinquent.

Eliminates the 12 percent annual interest rate minimum for owner-occupied residential properties, allowing lower rates to apply.

Requires liens on owner-occupied residential properties to be redeemed in chronological order (earliest first) rather than reverse chronological order, with enforcement proceeding only after any lien remains unredeemed for three or more years.

Modifies redemption notices for owner-occupied residential properties to clarify that partial lien payments will not prevent enforcement if liens remain unredeemed for three or more years.