File #: Res 0327-2024    Version: * Name: Allowing for property owners who receive tax exemptions to have the exemption apply retroactively where eligible.
Type: Resolution Status: Committee
Committee: Committee on Finance
On agenda: 4/11/2024
Enactment date: Law number:
Title: Resolution calling on the New York State Legislature to pass, and the Governor to sign, legislation allowing for property owners who receive tax exemptions to have the exemption apply retroactively where eligible.
Sponsors: Sandy Nurse, Chi A. Ossé, Crystal Hudson, Mercedes Narcisse, Pierina Ana Sanchez, Selvena N. Brooks-Powers, Alexa Avilés, Shekar Krishnan, Julie Won, Jennifer Gutiérrez, Nantasha M. Williams, Gale A. Brewer, Shaun Abreu, Yusef Salaam, Diana I. Ayala, (in conjunction with the Brooklyn Borough Presiden
Council Member Sponsors: 15
Attachments: 1. Res. No. 327, 2. April 11, 2024 - Stated Meeting Agenda, 3. Hearing Transcript - Stated Meeting 4-11-24, 4. Minutes of the Stated Meeting - April 11, 2024

Res. No. 327

 

Resolution calling on the New York State Legislature to pass, and the Governor to sign, legislation allowing for property owners who receive tax exemptions to have the exemption apply retroactively where eligible.

 

By Council Members Nurse, Ossé, Hudson, Narcisse, Sanchez, Brooks-Powers, Avilés, Krishnan, Won, Gutiérrez, Williams, Brewer, Abreu, Salaam and Ayala (in conjunction with the Brooklyn Borough President)

 

Whereas, The New York City Department of Finance (“DOF”) is responsible for the collection of property taxes in the city of New York; and

Whereas, State law allows for several exemption or abatement programs from the property tax for eligible property owners, such as senior citizens, veterans, clergy, and others; and

Whereas, DOF is responsible for the administration of property tax exemptions authorized by state law; and

Whereas, Not every property owner in the city of New York is aware of their potential eligibility for such exemption programs; and

Whereas, Failure to enroll in such programs can result in property owners owing more in property tax than they are otherwise obligated; and

Whereas, Excessive property tax bills can lead to property owners falling into arrears and potential foreclosure; and

Whereas, The application date for property tax exemptions is fixed by state law; and

Whereas, State law does not allow for an otherwise eligible property owner to receive exemption benefits if they have not submitted an application for that tax year; now, therefore be it

Resolved, That the Council of the City of New York calls on the New York State Legislature to pass, and the Governor to sign, legislation allowing for property owners who receive tax exemptions to have the exemption apply retroactively where eligible.

LS #12138

MJT