Bill > S06067

This bill provides a special authorization for Top Community Development Corporation to apply for a real property tax exemption for specific properties located at 1274 Utica Avenue in Kings County, Brooklyn, even though they missed the standard application deadline. The bill allows the New York City Department of Finance commissioner to accept and review their application retroactively for the 2019 assessment roll, provided the organization meets two key conditions: (1) they acquired the property after the original taxable status date but before the next assessment roll's date, and (2) they would have been eligible for the exemption if they had filed on time. If the application is approved by both the commissioner and the New York City Council, the organization can receive a property tax exemption dating back to their property acquisition. Furthermore, if Top Community Development Corporation has already paid taxes on these properties, the Department of Finance may refund those taxes, including any funds held in escrow, and can cancel any remaining unpaid taxes, fines, penalties, or interest. The bill takes effect immediately upon passage.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S6067