N.Y. Real Property Tax Law § 975: Owner of real property may elect to pay taxes in installments

§ 975. Owner of real property may elect to pay taxes in installments.

1. Upon receipt of the statement of taxes, an owner of real property may

elect to pay the total amount of the taxes set forth in such statement

without regard to this title; or he may elect to pay such taxes in

installments as provided in the local law enacted pursuant to section

nine hundred seventy-two of this chapter.

2. If the owner is eligible to participate in the installment

program, and elects to do so, he or she shall pay to the collecting

officer the amount set forth in such statement and designated as "first

installment". The amount of each succeeding installment shall be paid

to the county treasurer on or before the date specified in the local law

enacted by the county pursuant to section nine hundred seventy-two of

this chapter.

3. If any such installment is not paid on or before the date when

due, interest shall be added to the amount of any such installment at

the rate as determined pursuant to section nine hundred twenty-four-a of

this chapter, or such other law as may be locally applicable, for each

month or part thereof until paid. No such installment may be paid

unless all prior installments of current taxes, including interest,

shall have been paid or shall be paid at the same time.

4. The owner of real property who elects to pay taxes in installments

as provided in this section shall indicate his election by remitting the

amount of the first installment to the collecting officer on or before

the date upon which it is due or not later than within five days

thereafter; provided, however, that in the event the amount of the first

installment is paid after the date upon which it was due, the interest

rate set forth in subdivision three of this section shall apply.

5. The failure or neglect by an owner of real property to pay the

first installment as provided in subdivision four of this section shall

be construed as an election by such owner to pay the total amount of

taxes in one payment in the manner provided by law.

6. The county treasurer of a county which has enacted a local law

pursuant to section nine hundred seventy-two of this chapter may

promulgate and amend suitable rules and regulations prescribing the

necessary forms for carrying into effect the provisions of this title

and of article thirteen of this chapter relating to the installment

payment of taxes.