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, Department of Finance Commissioner Jacques Jiha, and … <Read More>
Search Results for: Property Tax
City Offers Payment Plans and Deferral Programs for Property Tax Payments
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 … <Read More>
The City’s Tax Lien Sale Now Delayed Until Late September
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 … <Read More>
Mayor Urges Emissions Reductions for Existing Buildings
Mayor Bill de Blasio calls for emissions reductions by mandating improvements to existing buildings. On June 2, 2017, Mayor Bill de Blasio signed Executive Order No. 26, Climate Action Executive Order, to commit New York City to the principles and goals of the Paris Agreement. On September 14, 2017, the Office of the Mayor announced new mandates on building upgrades to implement the executive order. According to the Mayor’s press release, these mandates … <Read More>
Rent Stabilization: Preserving Low and Middle-Income Housing
Rent regulation is not a new issue for New York City. But the headlines in June 2015 were far larger and the reactions more contentious than at any time in recent memory. For the first time in its 46-year history, the Rent Guidelines Board decided that there would be no increase in rents for one-year renewals on rent-stabilized apartments; it also limited increases on two year renewals to two-percent. Not surprisingly, tenants hailed the decision … <Read More>
CityLand’s Top Ten Stories of 2016
Welcome to CityLand‘s fifth annual top ten stories of the year! We have selected a range of our most popular and prominent stories, and guest commentaries concerning New York City land use in 2016. Our fifth year as an online publication was marked by the fight to pass the Mayor’s Mandatory Inclusionary Housing plan, proposed reforms to the building code to prevent illegal home conversions, and capped by the passage of state laws prohibiting … <Read More>