Decreases the amount of the late charge of five percent to one-half percent for the overdue tax payment; authorizes a municipality to provide any resident the opportunity for the forbearance of certain delinquent taxes upon a hardship declaration.
STATE OF NEW YORK
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7448
2021-2022 Regular Sessions
IN ASSEMBLY
May 10, 2021
___________
Introduced by M. of A. BURDICK -- read once and referred to the Commit-
tee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to the forbear-
ance of certain delinquent taxes; 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:
1 Section 1. Subdivision 7 of section 1184 of the real property tax law,
2 as amended by chapter 579 of the laws of 1995, is amended to read as
3 follows:
4 7. Interest and penalties. Interest on the total amount of eligible
5 delinquent taxes, less the amount of the down payment made by the eligi-
6 ble owner, if any is required, shall be that amount as determined pursu-
7 ant to section nine hundred twenty-four-a of this chapter, or such other
8 law as may be applicable. The rate of interest in effect on the date the
9 agreement is signed shall remain constant during the period of the
10 agreement. If an installment is not paid on or before the date it is
11 due, interest shall be added at the applicable rate for each month or
12 portion thereof until paid. In addition, if an installment is not paid
13 by the end of the fifteenth calendar day after the payment due date, a
14 late charge of [five] one-half percent of the overdue payment shall be
15 added. Provided, however, that any municipality may provide to any resi-
16 dent an opportunity for a forbearance of payments pursuant to this
17 subdivision for any person or entity facing a financial hardship due to
18 the COVID-19 pandemic. Such forbearance of payments shall commence upon
19 resident's filing of any hardship declaration pursuant to part B of
20 chapter three hundred eighty-one of the laws of two thousand twenty.
21 § 2. This act shall take effect immediately and shall expire and be
22 deemed repealed December 31, 2021.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08369-02-1
