Meeting Name: Committee on Finance Agenda status: Final
Meeting date/time: 8/3/2022 10:00 AM Minutes status: Final  
Meeting location: HYBRID HEARING - Council Chambers - City Hall
Published agenda: Agenda Agenda Published minutes: Minutes Minutes  
Meeting video:  
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Int 0524-2022 *David M. Carr  Interest rates applicable to installment agreements for the payment of property tax arrears.IntroductionThis bill would authorize the New York City Banking Commission to recommend, and the Council to adopt, an interest rate that would be applicable to the property tax arrears that accrue while a property with an assessed value of $250,000 or less is the subject of a valid payment agreement plan with the Department of Finance. The rate recommended by the Banking Commission must be at least equal to the most recently determined federal short-term interest rate. In addition, the local law would repeal provisions requiring the Banking Commission to make certain recommendations for interest rates for the nonpayment of water and sewer rents because those provisions are preempted by a State law setting such interest rates.Hearing Held by Committee  Action details Not available
Int 0524-2022 *David M. Carr  Interest rates applicable to installment agreements for the payment of property tax arrears.IntroductionThis bill would authorize the New York City Banking Commission to recommend, and the Council to adopt, an interest rate that would be applicable to the property tax arrears that accrue while a property with an assessed value of $250,000 or less is the subject of a valid payment agreement plan with the Department of Finance. The rate recommended by the Banking Commission must be at least equal to the most recently determined federal short-term interest rate. In addition, the local law would repeal provisions requiring the Banking Commission to make certain recommendations for interest rates for the nonpayment of water and sewer rents because those provisions are preempted by a State law setting such interest rates.Laid Over by Committee  Action details Not available
Int 0600-2022 *Adrienne E. Adams PreconsideredA rebate against real property taxes for certain owners of real property.IntroductionThe legislation implements a state authorizing law allowing the City to provide a rebate of real property taxes for eligible properties on fiscal year 2022 property taxes. The rebate would be the lesser of $150 or the property’s annual real estate tax liability. To be eligible for the rebate: (1) the property must be a one, two or three family residence or a dwelling unit in a cooperative or condominium; and (2) the property must be the primary residence of the owner. In addition, the income of all of the owners for whom the property serves as their primary residence cannot exceed $250,000.Hearing on P-C Item by Comm  Action details Not available
Int 0600-2022 *Adrienne E. Adams  A rebate against real property taxes for certain owners of real property.IntroductionThe legislation implements a state authorizing law allowing the City to provide a rebate of real property taxes for eligible properties on fiscal year 2022 property taxes. The rebate would be the lesser of $150 or the property’s annual real estate tax liability. To be eligible for the rebate: (1) the property must be a one, two or three family residence or a dwelling unit in a cooperative or condominium; and (2) the property must be the primary residence of the owner. In addition, the income of all of the owners for whom the property serves as their primary residence cannot exceed $250,000.P-C Item Laid Over by Comm  Action details Not available
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