BILL NUMBER:S5876

TITLE OF BILL:

An act relating to the collection of property taxes and interest for
the year 2015

PURPOSE:

This legislation provides property tax payers with a one-day
extension, without penalty, to make payments in light of the snow
storm that hit much of New York State on the original due date.

SUMMARY OF PROVISIONS:

Section 1 of the bill grants real property tax payers a one-day
extension, pursuant to the adoption of a local resolution, for the
remittance of property taxes that would have otherwise been due on
February 2, 2015, without penalty or interest, to February 3, 2015.

Section 2 of the bill states this act shall take effect immediately.

JUSTIFICATION:

In New York State, real property taxes are allowed to be paid without
a charge for interest on or before January 31 each year. In 2015,
              

January 31 fell on a Saturday and property taxpayers were given until
the next business day, Monday February 2, to pay such taxes. However,
on February 2, 2015 a major storm blanketed much of the state with
significant snowfalls and icy conditions that prevented many property
taxpayers from safely leaving their homes to pay such taxes. This
legislation would give affected parties an additional day to pay their
property tax bill without incurring interest charges.

FISCAL IMPLICATIONS:

None to the State, a small reduction in interest payments to local
governments, but for a reason that preserves neighborly treatment
between local governments and their residents.

IMPACT ON REGULATION OF BUSINESSES AND INDIVIDUALS:

This act would prevent businesses and property owners from having to
pay fines and interest for late payments occurring as a result of
circumstances out of their control.

LEGISLATIVE HISTORY:

New bill.

EFFECTIVE DATE:

This act shall take effect immediately.