File #: Res 0297-2014    Version: * Name: Establish that the discount percentage for early payment of real estate taxes be set at 1.0% per annum for FY'15.
Type: Resolution Status: Adopted
Committee: Committee on Finance
On agenda: 6/25/2014
Enactment date: Law number:
Title: Resolution to establish that the discount percentage for early payment of real estate taxes be set at 1.0% per annum for Fiscal Year 2015.
Sponsors: Julissa Ferreras-Copeland
Council Member Sponsors: 1
Attachments: 1. Banking Commission Letter, 2. Committee Report, 3. Hearing Testimony 6-25-14, 4. Hearing Transcript 6-25-14, 5. Hearing Transcript - Stated Meeting 6-25-14, 6. Minutes of the Stated Meeting - June 11, 18 & 25, 2014
Date Ver.Prime SponsorAction ByActionResultAction DetailsMeeting DetailsMultimedia
6/25/2014*Julissa Ferreras-Copeland City Council Approved, by CouncilPass Action details Meeting details Not available
6/25/2014*Julissa Ferreras-Copeland City Council Referred to Comm by Council  Action details Meeting details Not available
6/25/2014*Julissa Ferreras-Copeland City Council Introduced by Council  Action details Meeting details Not available
6/25/2014*Julissa Ferreras-Copeland Committee on Finance P-C Item Approved by CommPass Action details Meeting details Not available
6/25/2014*Julissa Ferreras-Copeland Committee on Finance Hearing on P-C Item by Comm  Action details Meeting details Not available
Preconsidered Res. No. 297
 
Resolution to establish that the discount percentage for early payment of real estate taxes be set at 1.0% per annum for Fiscal Year 2015.
 
By Council Member Ferreras
      Whereas, Section 1519-a(7)(c) of the New York City charter provides that the Council may adopt a discount percentage for early payment of real estate taxes on the fifth day of June preceding such ensuing fiscal year, or at any time thereafter; and
Whereas, The Banking Commission forwarded its recommendation to the Council, by letter dated May 20, 2014, that the discount percentage for early payment of real estate taxes for Fiscal Year 2015 be set at one percent (1.0%) per annum; and
Whereas, This Resolution provides that the discount percentage for early payment of real estate taxes shall be set at one percent (1.0%) per annum for Fiscal Year 2015; now, therefore, be it
Resolved, That the Council of the City of New York establishes that the discount percentage for early payment of real estate taxes be set at 1.0% per annum for Fiscal Year 2015.
 
RC LS#2024
6/18/14