In relation to the grace period for payment of the first installment of real estate taxes on certain parcels of real property for fiscal year nineteen hundred …
NYC L.L. 1986/067
in effectL.L. 1986/067
Enactment date: 12/8/1986
Int. No. 711
By Council Member DeMarco {by request of the Mayor); also Council Members Maloney and Messinger
A Local Law in relation to the grace period for payment of the first installment of real estate taxes on certain parcels of real property for fiscal year nineteen hundred eighty-seven.
Be it enacted by the Council as follows:
Section one. Declaration of legislative findings. On October second, nineteen hundred eighty-six, a judgment was entered by a justice of the New York state supreme court which invalidated local law number twenty-four for the year nineteen hundred eighty-six on the ground that the requirements for notice of public hearing prior to mayoral approval of the measure set forth in former section 38b-1.0 of the administrative code of the city of New York were not met. Since the hearing held in connection with mayoral approval of local law number twenty-five for the year nineteen hundred eighty-six relating to a grace period for payment of certain real estate taxes was similarly noticed, questions may be raised as to the validity of local law number twenty-five for such year. While the corporation counsel advises that the judgment invalidating local law twenty-four for such year is before the appellate courts, and that, in his view, the mayor properly approved local law number twenty-four for such year and all other local laws which were before the mayor at that time, the council has determined that to exercise utmost caution in order to ensure the benefits to owners of smaller properties afforded by local law twenty-five for such year it is prudent at this time to re-enact the provisions of such local law number twenty-five so as to remove any uncertainty that may exist as to its status.
§ 2. Notwithstanding any inconsistent provision of subdivision f of section 11-224 of the administrative code of the city of New York, if the installment of real estate tax on any parcel of real estate having a taxable assessed value of two hundred fifty thousand dollars or less which becomes due and payable on July first, nineteen hundred eighty-six, shall remain unpaid, in whole or in part, on July thirty-first, nineteen hundred eighty-six, the commissioner of finance shall charge, receive and collect interest thereon to be calculated from July first nineteen hundred eighty-six to the date of payment at the rate and in the manner prescribed in section 11-224 of such code.
§ 3. To the extent that this local law bas application prior to September first nineteen hundred eighty-six, the reference herein to section 11-224 of the administrative code of the city of New York shall be deemed a reference to former section E17-24.0 of such code repealed by chapter nine hundred seven of the laws of nineteen hundred eighty-five.
§ 4. If any clause, sentence, paragraph, section or part of this local law shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation to the clause, sentence, paragraph, section, or part thereof directly involved in the controversy in which such judgment shall have been rendered.
§ 5. This local law shall take effect immediately and be retroactive to and deemed in full force and effect as of June thirtieth, nineteen hundred eighty-six.
Source: City of New York, Charter, Administrative Code and Rules (American Legal Publishing XML export, codelibrary.amlegal.com)URL: https://codelibrary.amlegal.com/codes/newyorkcity/latest/NYCadmin/0-0-0-223094Fetched: 10/25/2026