Extends date for the collection of property taxes for 2015

BILL NUMBER:S5876

Title of bill

An act relating to the collection of property taxes and interest for the year 2015

Purpose

This legislation provides property tax payers with a one-day extension, without penalty, to make payments in light of the snow storm that hit much of New York State on the original due date.

Summary of provisions

Section 1 of the bill grants real property tax payers a one-day extension, pursuant to the adoption of a local resolution, for the remittance of property taxes that would have otherwise been due on February 2, 2015, without penalty or interest, to February 3, 2015.

Section 2 of the bill states this act shall take effect immediately.

Justification

In New York State, real property taxes are allowed to be paid without a charge for interest on or before January 31 each year. In 2015, January 31 fell on a Saturday and property taxpayers were given until the next business day, Monday February 2, to pay such taxes. However, on February 2, 2015 a major storm blanketed much of the state with significant snowfalls and icy conditions that prevented many property taxpayers from safely leaving their homes to pay such taxes. This legislation would give affected parties an additional day to pay their property tax bill without incurring interest charges.

Fiscal implications

None to the State, a small reduction in interest payments to local governments, but for a reason that preserves neighborly treatment between local governments and their residents.

Impact on regulation of businesses and individuals

This act would prevent businesses and property owners from having to pay fines and interest for late payments occurring as a result of circumstances out of their control.

Legislative history

New bill.

Effective date

This act shall take effect immediately.