S T A T E O F N E W Y O R K
________________________________________________________________________
5810
2023-2024 Regular Sessions
I N A S S E M B L Y
March 23, 2023
___________
Introduced by M. of A. D. ROSENTHAL -- read once and referred to the
Committee on Real Property Taxation
AN ACT authorizing the commissioner of finance of the city of New York
to establish a property tax amnesty program; and providing for the
repeal of such provisions upon expiration thereof
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Notwithstanding any provision of law to the contrary, the
commissioner of finance of the city of New York shall establish an
amnesty program for any property owner who has a delinquent property tax
balance of more than $1,000 for more than one year. Such amnesty program
shall last for a period of 4 months and shall:
1. Forgive 100 percent of the interest on such delinquent property tax
balance, if 100 percent of the principal bill is paid;
2. Forgive 75 percent of the interest on such delinquent property tax
balance, if 50 percent of the principal bill is paid; and
3. Forgive 50 percent of the interest on such delinquent property tax
balance, if 25 percent of the principal bill is paid.
Any property owner with a delinquent property tax balance of less than
$1,000 shall be eligible for forgiveness of 100 percent of the interest
on such delinquent property tax balance if 100 percent of the principal
bill is paid. Any property owner with a remaining delinquent property
tax balance after participation in the program shall enter into a
payment agreement with the commissioner of finance.
ยง 2. This act shall take effect immediately and shall expire and be
deemed repealed one year after such date.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08923-01-3