Bill > A01110

This bill amends the real property tax law to clarify the timing of interest accrual on missed installment payments for property taxes. Currently, when a property owner chooses to pay their taxes in installments and misses a payment, the bill specifies that additional interest will only begin to accrue from the actual due date of the missed installment, rather than potentially from an earlier date. This means that property owners will have more predictable and potentially more lenient terms when they fail to make a timely tax payment. The change applies regardless of any existing general, special, or local laws that might previously have governed such situations, and the interest rate will be determined according to the existing provisions of the tax law or other applicable local regulations. The bill takes effect immediately upon passage, providing immediate implementation of this new provision for property tax installment payments.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A1110