New York City Council Header
File #: Res 1346-2020    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'21.
Type: Resolution Status: Adopted
Committee: Committee on Finance
On agenda: 6/25/2020
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 2021.
Sponsors: Daniel Dromm
Council Member Sponsors: 1
Attachments: 1. Res. No. 1346, 2. Committee Report, 3. June 25
Date Ver.Prime SponsorAction ByActionResultAction DetailsMeeting DetailsMultimedia
6/25/2020*Daniel Dromm City Council Approved, by CouncilPass Action details Meeting details Not available
6/25/2020*Daniel Dromm City Council Referred to Comm by Council  Action details Meeting details Not available
6/25/2020*Daniel Dromm City Council Introduced by Council  Action details Meeting details Not available
6/25/2020*Daniel Dromm Committee on Finance Hearing on P-C Item by Comm  Action details Meeting details Not available
6/25/2020*Daniel Dromm Committee on Finance P-C Item Approved by CommPass Action details Meeting details Not available

Preconsidered Res. No. 1346

 

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 2021.

 

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 13, 2020, that the discount percentage for early payment of real estate taxes for Fiscal Year 2021 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 2021.

 

NAB

LS #15,622

6/21/20