MAYOR GIULIANI SIGNS COUNCIL BILL NO. 1032, MAKING ELIGIBLE 35,000 HOMEOWNERS FOR PAYMENT DISCOUNT ON REAL ESTATE TAXES
Remarks By Mayor Rudolph W. Giuliani At Public Hearing On Local Laws
The next bill before me for consideration is Introductory Number 1032, a bill jointly sponsored by my Administration and Council Members Berman, Miller and Michels.
The purpose of this proposed local law is to bring further equity among homeowners within the different classes of properties. Specifically, Intro. 1032 increases the assessment threshold from $40,000 to $80,000 for class one and two properties and increases the assessment threshold from $40,000 to $80,000 per dwelling unit for cooperatives. Furthermore, this bill would provide that such properties will be eligible to receive a discount through the fifteenth (15th) day of the calendar month in which an installment of real property taxes become due and payable.
By signing this legislation, nearly 35,000 additional class one and class two properties citywide will become eligible for quarterly tax installments, prepayment discounts and the fifteen-day grace period.
For the reasons previously stated, I will now sign the bill.
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