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NY S03181
Bill
Status
1/24/2025
Primary Sponsor
Simcha Felder
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AI Summary
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Requires the NYC Commissioner of Finance to establish a 4-month property tax amnesty program for property owners with delinquent tax balances over $1,000 for more than one year
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Forgives 100% of interest if the full principal balance is paid, 75% of interest if 50% of principal is paid, or 50% of interest if 25% of principal is paid
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Property owners with delinquent balances under $1,000 qualify for 100% interest forgiveness if they pay the full principal
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Property owners with remaining balances after participating must enter into a payment agreement with the Commissioner of Finance
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The act expires and is repealed one year after taking effect
Legislative Description
Authorizes the commissioner of finance of the city of New York to establish a property tax amnesty program; provides that such program shall last for 4 months and shall forgive up to $1000 of interest on a delinquent tax bill if 100 percent of the principal bill is paid.
Last Action
RECOMMIT, ENACTING CLAUSE STRICKEN
5/27/2025