Senate Bill S6166

2025-2026 Legislative Session

Relates to delinquent tax interest rates

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Local Government Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2025-S6166 (ACTIVE) - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §924-a, RPT L
Versions Introduced in Other Legislative Sessions:
2021-2022: S6310
2023-2024: S967

2025-S6166 (ACTIVE) - Summary

Relates to setting a minimum and maximum delinquent tax interest rate for payments due on residential real property.

2025-S6166 (ACTIVE) - Sponsor Memo

2025-S6166 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6166
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                               March 6, 2025
                                ___________
 
 Introduced  by  Sen. S. RYAN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN ACT to amend the real property tax law, in relation to delinquent tax
   interest rates
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  Subdivision  1  of section 924-a of the real property tax
 law, as amended by chapter 26 of the laws of 2003, is amended to read as
 follows:
   1. The amount of interest to be added on all taxes received after  the
 interest  free  period and all delinquent taxes shall be one-twelfth the
 rate of interest as determined pursuant to subdivision two or  two-a  of
 this section rounded to the nearest one-hundredth of a percentage point,
 except as otherwise provided by a general or special law, or a local law
 adopted by a city pursuant to the municipal home rule law or any special
 law.  Such  interest  shall  be added for each month or fraction thereof
 until such taxes are paid; PROVIDED HOWEVER,  THAT  NOTWITHSTANDING  ANY
 PROVISION OF GENERAL, SPECIAL, OR LOCAL LAW OR RESOLUTION TO THE CONTRA-
 RY,  BEGINNING IN ALL LOCAL FISCAL YEARS COMMENCING IN CALENDAR YEAR TWO
 THOUSAND TWENTY-SIX AND THEREAFTER, IN NO CASE SHALL THE  INTEREST  RATE
 OF  DELINQUENT  TAX PAYMENTS DUE ON RESIDENTIAL REAL PROPERTY EXCEED THE
 PRIME INTEREST RATE, AS DETERMINED BY THE COMMISSIONER, PROVIDED THAT IN
 NO INSTANCE SHALL THE INTEREST RATE SUBCEED TWO PER CENTUM PER ANNUM  OR
 EXCEED  SIXTEEN  PER  CENTUM  PER  ANNUM; AND PROVIDED FURTHER THAT THIS
 LIMITATION SHALL APPLY TO UNITS HELD IN CONDOMINIUM FORM;  AND  PROVIDED
 FURTHER  THAT SUCH LIMITATION SHALL APPLY TO ALL BUILDINGS HELD IN COOP-
 ERATIVE FORM REGARDLESS OF OWNER OCCUPANCY STATUS; AND PROVIDED  FURTHER
 THAT THIS LIMITATION SHALL NOT APPLY TO REAL PROPERTY THAT IS VACANT AND
 ABANDONED,  AS  DEFINED  IN  SUBDIVISION TWO OF SECTION THIRTEEN HUNDRED
 NINE  OF THE REAL PROPERTY ACTIONS AND PROCEEDINGS LAW, WHICH WAS LISTED
 ON THE STATEWIDE VACANT AND ABANDONED PROPERTY ELECTRONIC  REGISTRY,  AS
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10762-01-5

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