New York City Council Header
File #: Res 0891-2019    Version: * Name: Establish that the discount percentage for early payment of real estate taxes be set at one-half of one percent per annum for FY'20.
Type: Resolution Status: Adopted
Committee: Committee on Finance
On agenda: 5/29/2019
Enactment date: Law number:
Title: Resolution to establish that the discount percentage for early payment of real estate taxes be set at one-half of one percent per annum for Fiscal Year 2020.
Sponsors: Daniel Dromm
Council Member Sponsors: 1
Attachments: 1. Banking Commission Letter, 2. Res. No. 891, 3. Committee Report, 4. Hearing Transcript, 5. May 29, 2019 - Stated Meeting Agenda with Links to Files, 6. Hearing Transcript - Stated Meeting 5-29-19, 7. Minutes of the Stated Meeting - May 29, 2019, 8. Minutes of the Recessed Meeting of May 29, 2019 Held on June 13, 2019
Date Ver.Prime SponsorAction ByActionResultAction DetailsMeeting DetailsMultimedia
5/29/2019*Daniel Dromm City Council Approved, by CouncilPass Action details Meeting details Not available
5/29/2019*Daniel Dromm City Council Referred to Comm by Council  Action details Meeting details Not available
5/29/2019*Daniel Dromm City Council Introduced by Council  Action details Meeting details Not available
5/29/2019*Daniel Dromm Committee on Finance Hearing on P-C Item by Comm  Action details Meeting details Not available
5/29/2019*Daniel Dromm Committee on Finance P-C Item Approved by CommPass Action details Meeting details Not available

Preconsidered Res. No. 891

 

Resolution to establish that the discount percentage for early payment of real estate taxes be set at one-half of one percent per annum for Fiscal Year 2020.

 

By Council Member Dromm

                     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 10, 2019, that the discount percentage for early payment of real estate taxes for Fiscal Year 2020 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 2020.

 

NAB LS#11172

5/28/19