New York A01110 amends the real property tax law to ensure interest accrues on missed installment payments starting from the due date of the missed.

New York A01110 amends Section 924-a of the real property tax law by adding a new subdivision. This change specifies that for property owners who choose to pay taxes in installments, interest will only begin to accrue from the due date of any missed installment payment. This rule takes precedence over any conflicting provisions in other laws. The amendment aims to clarify and standardize the interest accrual process for missed installment payments, affecting property owners who opt for installment tax payments. The act is set to take effect immediately upon enactment.

New York A01110 amends the real property tax law to ensure interest accrues on missed installment payments starting from the due date of the missed.

New York A01110 amends Section 924-a of the real property tax law by adding a new subdivision. This change specifies that for property owners who choose to pay taxes in installments, interest will only begin to accrue from the due date of any missed installment payment. This rule takes precedence over any conflicting provisions in other laws. The amendment aims to clarify and standardize the interest accrual process for missed installment payments, affecting property owners who opt for installment tax payments. The act is set to take effect immediately upon enactment.