Exemptions from the sale of tax liens.

A Local Law to amend the administrative code of the city of New York, in relation to exemptions from the sale of tax liens

This bill would exempt from the City’s lien sale any property owned by a not-for-profit organization that received a property tax exemption under Sections 420-a, 420-b, 446 and 462 of the New York State Real Property Tax Law in at least one of the prior five fiscal years. Additionally, the bill would provide an exemption for any property for which the owner has, in good faith, submitted a pending initial or renewal application for a not-for-profit property tax exemption pursuant to the above sections with the Department of Finance (DOF), as well as any property for which the owner is appealing the denial of such an exemption with the Tax Commission. The bill would also require notice to owners of Class 4 properties of the availability of exemptions and other actions to remove a property from the sale, as well as mandate certain other changes to the lien sale notice. Furthermore, the bill would require DOF to include information about how to remove a property from the lien sale when denying an application for certain exemptions. Finally, the bill would require DOF to report to the Council (within 90 days) on the total number and value of liens included in specified lien sales that would have otherwise been exempt due to not-for-profit or another status.