BILL NUMBER:  S7283

 TITLE OF BILL :
An act to amend the real property tax law, in relation to providing an
optional prepayment of property taxes in monthly payments


 PURPOSE OR GENERAL IDEA OF BILL :
To provide local municipalities the option to collect property taxes
on a ten-month schedule in addition to the current semi-annual
schedule.

 SUMMARY OF SPECIFIC PROVISIONS :
Section 1 adds new section 510-b to the real property tax law. This
section authorizes the legislative bodies of towns, counties, or
cities, to provide by resolution, the option for property taxpayers to
pay their taxes on a ten-month schedule. The schedule is as follows:
for each month of the nine-month period beginning in June of the year
the property tax bill is prepared, the property taxpayer will pay ten
percent of their previous year's property tax bill to the appropriate
municipality. In March, the tenth month of the ten-month schedule, the
property taxpayer will pay the balance of the tax bill resulting from
the current year's tax bill minus the nine payments of ten percent of
the previous year's tax bill.

Section 2 contains the legislation's effective date.
              

 JUSTIFICATION :
Property taxes in New York are among the highest in the nation, both
in terms real dollars and percentage of family income.  Many
individuals and families find it difficult to budget for tax bills
that approach four and five thousand dollars, due every six months.

In order to alleviate this burden, residents should be provided the
option to pay their tax bills in smaller, but more numerous,
installments. This will help families budget appropriately to ensure
their tax bills are paid in-full and on-time.

The ancillary benefit is that municipalities that choose to enact this
optional program will experience a more stable cash flow. With taxes
being paid on a ten-month cycle, the municipalities will have more
cash on hand throughout the year, instead of waiting for large lump
sums semi-annually.

 PRIOR LEGISLATIVE HISTORY :
New bill.

 FISCAL IMPLICATIONS :
None.

 EFFECTIVE DATE :
This act shall take effect on the second of January next succeeding
the date on which it shall have become a law and apply to assessment
rolls based upon taxable status dates occurring on or after such date.