Imposition of interest for the nonpayment of taxes on certain real property for the duration of the COVID-19 disaster emergency declared by the state.

A Local Law to amend the administrative code of the city of New York, in relation to the imposition of interest for the nonpayment of taxes on certain real property for the duration of the COVID-19 disaster emergency declared by the state

This bill would eliminate interest on unpaid property taxes due and payable on or after March 7, 2020 through to the through to the end of the first month that commences after the expiration of the State’s COVID-19 disaster emergency for real property with an annual tax bill of $100,000 or less.