Bill > S05836

This bill amends the Real Property Tax Law to modify how local assessor offices handle tax billing addresses, specifically for mortgage-related institutions. Currently, assessors are required to update tax billing addresses when they receive notification of a change, but the new legislation provides an exception for mortgage investing institutions. Under the new provision, if a local governing body (such as a city, village, town, school district, fire district, or county) holds a public hearing and adopts a local law, ordinance, or resolution, assessors will no longer be required to enter tax billing address changes for mortgage-related entities. The bill also updates gender-specific language, replacing "he or she" with the gender-neutral term "they". This change aims to streamline administrative processes for local tax offices and potentially reduce bureaucratic tasks related to mortgage escrow account notifications. The legislation would take effect immediately upon enactment.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S5836