N.Y.C. Admin. Code § L.L. 1989/062: L.L. 1989/062

Enactment date: 7/25/1989

Int. No. 1285

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

A Local Law in relation to interest on real estate taxes on property having an assessed valuation of two hundred fifty thousand dollars or less

Be it enacted by the Council as follows:

Section 1. Notwithstanding the dates set forth for payment in subdivision f of section 11-224 of the administrative code of the city of New York, if the first installment of real estate tax for the tax year nineteen hundred eighty-nine – nineteen hundred ninety on real estate having a taxable assessed value of two hundred fifty thousand dollars or less which becomes due and payable on or after the first day of July, nineteen hundred eighty-nine remains unpaid in whole or in part on the twenty-fifth day of July, nineteen hundred eighty-nine, the commissioner of finance shall charge, receive and collect interest thereon to be calculated from the first day of July, nineteen hundred eighty-nine.

§ 2. This act shall take effect immediately and shall be deemed to have been in full force and effect as of July first, nineteen hundred eighty-nine.