NY Bill Floats Allowing Local Property Tax Virus Relief

Towns and cities in New York would be authorized to defer property taxes or allow installment payments for property owed by qualifying small businesses and landlords during the novel coronavirus outbreak, under a bill introduced in the state Senate.

S.B. 8920, introduced Wednesday by Sen. Pete Harckham, D-South Salem, would allow localities to defer property tax payments that are due during the state disaster emergency declared in light of the pandemic. Towns and cities would also be authorized to permit installment payments on property taxes for small businesses, defined as those with 20 or fewer employees having gross income of no more than $3 million, according to the bill text.

The property tax relief proposed in the bill would also be available to nonresidential landlords operating 50 or fewer units.

--Editing by Neil Cohen.

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