File #: Res 1917-2001    Version: * Name: Prepayment of real estate taxes be continued at 2% for FY2002.
Type: Resolution Status: Adopted
Committee: Committee on Finance
On agenda: 5/23/2001
Enactment date: Law number:
Title: Resolution to establish that the discount rate for the prepayment of real estate taxes be continued at 2% per annum for Fiscal Year 2002.
Sponsors: Herbert E. Berman, Karen Koslowitz, Helen M. Marshall, Michael C. Nelson, Jerome X. O'Donovan, Mary Pinkett
Council Member Sponsors: 6
Attachments: 1. Committee Report, 2. Hearing Transcript
Date Ver.Prime SponsorAction ByActionResultAction DetailsMeeting DetailsMultimedia
6/5/2001*Herbert E. Berman City Council Approved, by CouncilPass Action details Meeting details Not available
6/5/2001*Herbert E. Berman Committee on Finance Hearing Held by Committee  Action details Meeting details Not available
6/5/2001*Herbert E. Berman Committee on Finance Approved by CommitteePass Action details Meeting details Not available
5/23/2001*Herbert E. Berman City Council Referred to Comm by Council  Action details Meeting details Not available
5/23/2001*Herbert E. Berman City Council Introduced by Council  Action details Meeting details Not available
Res. No. 1917 Title Resolution to establish that the discount rate for the prepayment of real estate taxes be continued at 2% per annum for Fiscal Year 2002. Body By Council Member Berman; also Council Members Koslowitz, Marshall, Nelson, O'Donovan and Pinkett Whereas, Section fifteen hundred nineteen of Chapter fifty-eight of the New York City Charter requires the Banking Commission to recommend to the City Council, not later than the fifteenth day of May in each year, a proposed discount rate for the prepayment of real estate taxes to be effective for the ensuing fiscal year; and Whereas, On May 16, 2001, the Banking Commission transmitted to the City Council its recommendation that the discount rate for the prepayment of real estate taxes for Fiscal Year 2002 be continued at two percent per annum; and Whereas, This rate shall be applicable to the prepayment of second, third and fourth quarter installments only, and any such payment received prior to July 1, 2001 shall be discounted from July 1, 2001; now, therefore, be it Resolved, That the Council determines that the discount rate for the prepayment of real estate taxes be continued at 2% per annum for Fiscal Year 2002. jc:ag PC Budget00 Prec. Res.