NY S01482

Allows property owners of rental properties financially harmed by the declared COVID-19 emergency to pay property taxes in twelve monthly installments without interest or penalties for tax lien dates between April 1, 2020 and May 31, 2024.

Requires municipalities that received unrestricted federal pandemic relief assistance to calculate property tax obligations based on the percentage of rent actually received compared to rent that should have been received during the previous twelve months.

Provides temporary relief status to applicants pending eligibility determination, with seven business days to pay the full obligation if found ineligible or face interest and penalties.

Defines "financially harmed" as property owners who did not receive full rent owed because tenants' income was negatively affected by government employment restrictions or tangible economic effects of COVID-19.

Requires rent-regulated properties to have identical property tax obligations for tax years 2022-2023 as 2020-2021, with a tax lien date no earlier than October 1, 2022.