state_legiscan_drain · NY
Allows municipalities to cancel any interest and penalties on delinquent property tax payments where a property owner demonstrates extraordinary circumstances, financial hardship or a history of previous timely payment of property taxes; authorizes the commissioner of taxation and finance to promulgate rules and regulations for the application process, standards for documentation and guidance for enforcing officers.
June 5, 2026
Summary
If enacted, this bill would allow municipalities in New York to cancel interest and penalties on delinquent property tax payments when a property owner demonstrates extraordinary circumstances, financial hardship, or a history of timely payments. It would also authorize the state tax commissioner to create rules for the application process, documentation standards, and guidance for enforcing officers. Mortgage servicers who manage escrow accounts for property taxes may need to adjust their procedures to account for potential cancellations.
AI-generated summary · Jun 8, 2026. Verify with your compliance counsel before acting.
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Source: https://www.nysenate.gov/legislation/bills/2025/A11584
Common questions
- What does "Allows municipalities to cancel any interest and penalties on delinquent property tax payments where a property owner demonstrates extraordinary circumstances, financial hardship or a history of previous timely payment of property taxes; authorizes the commissioner of taxation and finance to promulgate rules and regulations for the application process, standards for documentation and guidance for enforcing officers." cover?
- If enacted, this bill would allow municipalities in New York to cancel interest and penalties on delinquent property tax payments when a property owner…
- When was it published?
- It was published on June 5, 2026.
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