N.Y.C. Admin. Code § L.L. 1992/055: L.L. 1992/055

Enactment date: 7/16/1992

Int. No. 501

By Council Member Berman (by the request of the Mayor)

A Local Law in relation to the grace period for payment without interest of the first installment of real property tax for the fiscal year of the city commencing on July 1, 1992.

Be it enacted by the Council as follows:

Section 1.

(a) Notwithstanding any contrary provision of subdivision f or k of section 11-224 of the administrative code of the city of New York or of any other law, with respect to real property described in paragraph b of subdivision 4 of section 1519 of the city charter, if the first installment of real property tax for the fiscal year of the city commencing on July 1, 1992, which is due and payable on July 1, 1992, is not paid on or before July 17, 1992, the commissioner of finance shall charge, receive and collect interest upon the amount of such installment not paid on or before such date, to be calculated from July 1, 1992 to the date of payment.

(b) Notwithstanding any contrary provision of subdivision f or k of section 11-224 of the administrative code of the city of New York or of any other law, with respect to any real property other than real property described in subdivision (a) of this section, if the first installment of real property tax for the fiscal year of the city commencing on July 1, 1992, which is due and payable on July 1, 1992, is not paid on or before July 31, 1992, the commissioner of finance shall charge, receive and collect interest upon the amount of such installment not paid on or before such date, to be calculated from July 1, 1992 to the date of payment.

§ 2. This local law shall take effect immediately and shall be deemed to have been in full force and effect on July 1, 1992.