NYC Banking Commission Recommends Eliminating Interest on July Property Tax Payments

The recommendation will also impact interest rates for small property owners not impacted by COVID-19. On May 13, 2020, the New York City Banking Commission recommended that the City Council create a new hardship exemption to eliminate interest on late payments for property taxes due in July for small property owners who faced financial hardship due to COVID-19. The Banking Commission is comprised of Mayor Bill de Blasio, ┬áDepartment of Finance Commissioner Jacques Jiha, and … <Read More>