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Sponsors
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History
- Referred to real property taxation
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A10214
Title of bill
An act to amend the real property tax law, in relation to the repayment of delinquent taxes
Purpose or general idea of bill
To change the order in which tax delinquent payments are required to be paid in tax districts.
Summary of specific provisions
Section 1: Subdivision 1 and 2 of section 1112 of real property tax law, as amended by chapter 532 of the laws of 1994.
Section 2. Effective Date.
Justification
Currently, when a property owner falls behind in taxes, the most recent tax bill must be paid first before older tax liens are paid. The current policy compounds interest and penalties that could be avoided if the order were reversed. This can create difficulties for people trying to dig out of debt. Older tax liens tend to be less costly and easier to afford to pay. Taxpayers would be able to pay older tax liens off and gradually pay down their tax liens. In addition, foreclo- sure proceedings would not be started allowing property owners more time to save their property. The ability to pay their oldest bill first will help lessen the burden on those families who are already struggling in our tough economic climate.
Prior legislative history
New Bill.
Fiscal implications
EFFECTIVE DATE: This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.