Tax Relief

NY Payments search tax breaks for some landlords amid a pandemic

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“href =” https://www.law360.com/tax-authority/articles/1352660/# “> James Nani · February 5, 2021 at 7:49 PM EST

New York would provide relief to some landlords during the novel coronavirus pandemic by offering property tax extensions or penalties for late taxes under several legislative bills.

SB 4159, introduced Tuesday by Senator Leroy Comrie, D-Queens, would set a statewide limit of 3% on penalties for unpaid late property tax liabilities due and payable by March 7, 2020 through June 30, 2021, according to a billing note . The bill has been referred to the Local Government Committee.

AB 4644, introduced on Thursday by MP Angelo Santabarbara, D-Rotterdam, would grant landlords who own five or fewer rental units an extension to pay property taxes if one or more tenants fail to rent within 180 days of the state of emergency of the pandemic have paid. according to an invoice description. The bill was referred to the Assembly’s Real Estate Taxation Committee.

AB 4612 and AB 4653, introduced Thursday by Rep. Michael Cusick, D-South Shore, would reduce real estate tax assessment fees owed by smaller landlords or businesses during the COVID-19 disaster emergency until 90 days after the end of the declared emergency according to the invoice description. Both invoices were referred to the Real Property Taxation Committee.

– Additional reporting from Jaqueline McCool. Arrangement by Robert Rudinger.

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