The program provides financial relief during the pandemic for New Yorkers who owe fines and penalties. On December 20, 2021, the Department of Finance announced that its Fine and Interest Reduction Enabling Recovery (FAIRER) Program would be extended through March 20, 2022. The program allows New Yorkers to pay a reduced amount in fines to resolve eligible Environmental Control Board (ECB) judgments. (read more…)
New York Governor Andrew Cuomo Image Credit: Mayors Press Office
Governor Cuomo signs executive order to delay tax lien sale. On September 4, 2020, New York City Mayor Bill de Blasio announced a delay of the City’s annual tax lien and water lien sale. The sale which was originally scheduled for May 2020 and was postponed to September 4, 2020, as a result of the COVID-19 pandemic, will now take place on September 25, 2020. The announcement comes after New York Governor Andrew Cuomo signed an executive order suspending the City’s ability to hold a lien sale. To read the Governor’s executive order click here.
Public Advocate Jumaane Williams Image Credit: NYC City Council
Public Hearing hinges on interest rates and how property tax deferments affect the City budget. On June 18, 2020, the City Council officially introduced two bills that would defer July 1, 2020, property tax liabilities for COVID-19 impacted property owners. One bill addresses the tax liabilities of primary residences and the other addresses the tax liabilities of businesses affected by the pandemic. The bills were originally heard as preconsidered bills at the June 10, 2020, Committee on Finance public hearing.
Council Member Antonio Reynoso. Image credit: William Alatriste, New York City Council
Council backs not-for-profit sector with new legislation. On March 29, 2020, Local Law 42 of 2020 was adopted by the City without the Mayor signing it following unanimous City Council approval. Local Law 42 was originally introduced as Int. No 245-of 2018 by Council Member Antonio Reynoso and was later amended twice. The new law creates an exemption for City tax lien sales of properties owned by not-for-profit organizations. The law also creates a not-for-profit ombudsperson within the City’s Department of Finance.
Department of Finance Payment Calculator Image Credit: Department of Finance
Department of Finance looks to ease tax burden on homeowners through deferment programs and suspension of the annual tax lien sale. On March 24, 2020, the Department of Finance announced several measures intended to assist property owners with their tax payments amidst the COVID-19 outbreak. With unprecedented unemployment rates, many throughout the city will have difficulty paying their taxes come the close of the fiscal quarter and going forward. Each of the following programs is aimed to lower the amount of taxes owed and provide payment plans for those individuals who qualify. The programs are as follows:
Mayor Bill de Blasio. Image credit: CityLand
The Housing Stability and Tenant Protection Act makes it possible to freeze rents at preferential rates for qualifying New Yorkers. On September 18, 2019, the de Blasio administration released guidance regarding renter rights under the Housing Stability and Tenant Protection Act. This guidance will allow New Yorkers who pay preferential rents in rent-stabilized apartments to benefit from the City’s Rent Freeze Programs. (read more…)
In a Reader
