Bill Text: NY A09807 | 2017-2018 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: 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.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2018-08-15 - print number 9807b [A09807 Detail]

Download: New_York-2017-A09807-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          9807
                   IN ASSEMBLY
                                    February 9, 2018
                                       ___________
        Introduced  by M. of A. WOERNER -- read once and referred to the Commit-
          tee on Real Property Taxation
        AN ACT to amend the real property tax law, in relation to interest rates
          imposed on late payment of taxes and delinquencies
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Subdivision  1  of section 924-a of the real property tax
     2  law, as amended by chapter 26 of the laws of 2003, is amended to read as
     3  follows:
     4    1. The amount of interest to be added on all taxes received after  the
     5  interest  free  period and all delinquent taxes shall be one-twelfth the
     6  rate of interest as determined pursuant to subdivision two or  two-a  of
     7  this section rounded to the nearest one-hundredth of a percentage point,
     8  except as otherwise provided by a general or special law, or a local law
     9  adopted by a city pursuant to the municipal home rule law or any special
    10  law or by a local law adopted by a county.  Such interest shall be added
    11  for each month or fraction thereof until such taxes are paid.
    12    §  2.  This  act shall take effect on the ninetieth day after it shall
    13  have become a law.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13314-01-7