File #: Res 0359-2018    Version: * Name: Establish that the discount percentage for early payment of real estate taxes be set at one-half of one percent per annum for FY'19.
Type: Resolution Status: Adopted
File created: 5/23/2018 In control: Committee on Finance
On agenda: 5/23/2018 Final action: 5/23/2018
Title: Resolution to establish that the discount percentage for early payment of real estate taxes be set at one-half of one percent per annum for Fiscal Year 2019.
Sponsors: Daniel Dromm
Attachments: 1. New York City Banking Commission Letter, 2. Committee Report, 3. Res. No. 359, 4. Hearing Transcript 5/23/18, 5. May 23, 2018 - Stated Meeting Agenda with Links to Files, 6. Hearing Transcript - Stated Meeting 5-23-18, 7. Minutes of the Stated Meeting - May 23, 2018

Preconsidered Res. No. 359

 

Resolution to establish that the discount percentage for early payment of real estate taxes be set at one-half of one percent per annum for Fiscal Year 2019.

 

By Council Member Dromm

                     Whereas, Pursuant to section 1519-a(7)(b) of the New York City charter, the Banking Commission is required to recommend to the City Council, not later than the 13th day of May, the proposed discount percentage allowed for early payment of real estate taxes; and

Whereas, Section 1519-a(7)(c) of the New York City charter provides that the Council may adopt a discount percentage for early payment of real estate taxes no earlier than the 14th day of May; and

Whereas, The Banking Commission forwarded its recommendation to the Council, by letter dated May 11, 2018, that the discount percentage for early payment of real estate taxes for Fiscal Year 2019 be set at one-half of one percent per annum; now, therefore, be it

Resolved, That the Council of the City of New York establishes that the discount percentage for early payment of real estate taxes be set at one-half of one percent per annum for Fiscal Year 2019.

 

RKC LS#7066

5/18/18