Bill > S00069

This bill amends the New York Real Property Tax Law to provide new provisions regarding property tax interest rates and tax lien redemptions, with a particular focus on protecting owner-occupied residential properties. The bill allows counties to adopt local laws setting interest rates for late property tax payments, in addition to existing provisions for cities. It modifies how tax liens are handled when multiple liens exist on a single property, creating different rules for owner-occupied residential properties versus other properties. Specifically, for non-residential properties, tax liens must be redeemed in reverse chronological order (most recent first), while for owner-occupied residential properties, liens must be redeemed in chronological order (earliest first). The bill also adjusts the minimum interest rate for unpaid taxes, reducing it for owner-occupied residential properties. Additionally, the bill updates language to use gender-neutral terms and provides more detailed requirements for issuing receipts when partial tax lien redemptions occur, including specific warning statements about potential property loss due to continued delinquency. These changes aim to provide more flexibility for local governments in managing property tax collections and offer some protections for residential property owners facing tax difficulties.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S69