N.Y.C. Admin. Code § L.L. 1986/025: L.L. 1986/025

Enactment date: 7/8/1986

Int. No. 628

By Council Member DeMarco (by request of the Mayor) (Passed under a message of necessity from the Mayor)

A Local Law in relation to the grace period for payment of the first installment of real estate taxes on certain parcels of real property for fiscal year nineteen hundred eighty-seven

Be it enacted by the Council as follows:

Section 1. Notwithstanding any inconsistent provisions of subdivision f of section E17-24.0 of the administrative code of the city of New York or subdivision f of section 11-224 of the administrative code of the city of New York, as recodified by chapter nine hundred seven of the laws of nineteen hundred eighty-five, if the installment of real estate tax on any parcel of real estate having a taxable assessed value of two hundred fifty thousand dollars or less which becomes due and payable on July first, nineteen hundred eighty-six, shall remain unpaid, in whole or in part, on July thirty-first, nineteen hundred eighty-six, the commissioner of finance shall charge, receive and collect interest thereon to be calculated from July first, nineteen hundred eighty-six to the date of payment at the rate and in the manner prescribed in section E17-24.0 or section 11-224 of such code.

§ 2. This local law shall take effect immediately and shall be retroactive to and shall be deemed to be in full force and effect as of June thirtieth, nineteen hundred eighty-six.