New York City Council Header
File #: Res 0735-2015    Version: * Name: Establish that the discount percentage for early payment of real estate taxes be set at 0.5% per annum for FY'16.
Type: Resolution Status: Adopted
Committee: Committee on Finance
On agenda: 6/10/2015
Enactment date: Law number:
Title: Resolution to establish that the discount percentage for early payment of real estate taxes be set at 0.5 percent per annum for Fiscal Year 2016
Sponsors: Julissa Ferreras-Copeland
Council Member Sponsors: 1
Attachments: 1. Banking Commission Letter, 2. Committee Report, 3. June 10, 2015 - Stated Meeting Agenda with Links to Files, 4. Hearing Testimony 6/10/15, 5. Hearing Transcript 6/10/15, 6. Hearing Transcript - Stated Meeting 6-10-15, 7. Minutes of the Stated Meeting - June 10, 2015
Date Ver.Prime SponsorAction ByActionResultAction DetailsMeeting DetailsMultimedia
6/10/2015*Julissa Ferreras-Copeland City Council Approved, by CouncilPass Action details Meeting details Not available
6/10/2015*Julissa Ferreras-Copeland City Council Referred to Comm by Council  Action details Meeting details Not available
6/10/2015*Julissa Ferreras-Copeland City Council Introduced by Council  Action details Meeting details Not available
6/10/2015*Julissa Ferreras-Copeland Committee on Finance Hearing on P-C Item by Comm  Action details Meeting details Not available
6/10/2015*Julissa Ferreras-Copeland Committee on Finance P-C Item Approved by CommPass Action details Meeting details Not available
Preconsidered Res. No. 735
 
Resolution to establish that the discount percentage for early payment of real estate taxes be set at 0.5 percent per annum for Fiscal Year 2016
 
By Council Member Ferreras-Copeland
      Whereas, Pursuant to section 1519-a(7)(b) of the New York City charter, the Banking Commission is required to recommend to the City Council, not later than the 13th day of May, the proposed discount percentage allowed for early payment of real estate taxes; and
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 no earlier than the 14th day of May; and
Whereas, The Banking Commission forwarded its recommendation to the Council, by letter dated May 13, 2015, that the discount percentage for early payment of real estate taxes for Fiscal Year 2016 be set at one-half of one percent per annum; 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 one-half of one percent per annum for Fiscal Year 2016.
 
RC LS#5523
6/2/15