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NY S09047
Bill
Status
9/27/2024
Primary Sponsor
Jamaal Bailey
Click for details
AI Summary
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Reduces the initial installment payment requirement from 25% to 10% of delinquent taxes, assessments, and other charges for tax delinquent properties in Mount Vernon.
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Establishes maximum payment plan durations: 10 years for seniors earning at or below 40% of Westchester County area median income, 5 years for residential property owners, and 3 years for all other property owners.
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Allows installment agreements to be paid in monthly or quarterly increments rather than fixed annual payments.
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Applies to foreclosure in rem proceedings for properties with tax arrears exceeding two years, with parcels eligible for exclusion if a qualifying installment agreement is in place with no defaults.
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Expires and is automatically repealed 10 years after the effective date.
Legislative Description
Relates to the offering of installment payment plans for tax delinquent property in the city of Mount Vernon, subject to a first payment equal to at least ten percent of delinquent taxes, assessments or other legal charges, and subject to specific periods of duration.
Last Action
SIGNED CHAP.397
9/27/2024