Modifies provisions for the payment of delinquent taxes by allowing entities to lend money to property owners, with lenders paying taxing.

New York A07497 amends the real property tax law to allow any person or entity to lend money to a property owner for delinquent taxes, with the lender paying the taxing jurisdiction and receiving a conditional tax receipt. It requires the recording of tax liens and allows for foreclosure of a conditional tax receipt like a mortgage. The bill also sets interest rates and outlines procedures for the transfer and foreclosure of tax liens.

Modifies provisions for the payment of delinquent taxes by allowing entities to lend money to property owners, with lenders paying taxing.

New York A07497 amends the real property tax law to allow any person or entity to lend money to a property owner for delinquent taxes, with the lender paying the taxing jurisdiction and receiving a conditional tax receipt. It requires the recording of tax liens and allows for foreclosure of a conditional tax receipt like a mortgage. The bill also sets interest rates and outlines procedures for the transfer and foreclosure of tax liens.