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NY A10475

Bill

Official Source

Status

Introduced

3/6/2026

Primary Sponsor

Alicia Hyndman

Click for details

Origin

Assembly

2025-2026 General Assembly

AI Summary

  • Authorizes counties to adopt local laws setting their own interest rates on late property tax payments and delinquent taxes, expanding authority previously limited to cities
  • Eliminates the 5% penalty added to unpaid taxes for owner-occupied residential properties when taxes are returned as delinquent to the county treasurer
  • Removes the 12% minimum annual interest rate floor for unpaid property taxes on owner-occupied residential properties
  • Changes tax lien redemption order for owner-occupied residential properties to chronological (oldest first) instead of reverse chronological, and delays enforcement until any lien remains unpaid for three years or more
  • Takes effect 90 days after becoming law

Legislative Description

Relates to authorizing counties to set interest rates imposed on late payment of property taxes and delinquencies and redemption of property subject to more than one tax lien.

Last Action

referred to real property taxation

3/6/2026

Committee Referrals

Real Property Taxation3/6/2026

Full Bill Text

No bill text available