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Resolution to establish that the discount percentage for early payment of real estate taxes be set at 0.5 percent per annum for Fiscal Year 2016

  • Adopted

History

Jun 10, 2015
City Council
Pass
Approved, by Council

Affirmative

Jun 10, 2015
City Council
Referred to Comm by Council
Jun 10, 2015
City Council
Introduced by Council
Jun 10, 2015
Committee on Finance
Hearing on P-C Item by Comm
Jun 10, 2015
Committee on Finance
Pass
P-C Item Approved by Comm

Affirmative

Absent

Preconsidered Res. No. 735
 
Resolution to establish that the discount percentage for early payment of real estate taxes be set at 0.5 percent per annum for Fiscal Year 2016
 
By Council Member Ferreras-Copeland
      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 13, 2015, that the discount percentage for early payment of real estate taxes for Fiscal Year 2016 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 2016.
 
RC LS#5523
6/2/15