§ 47-a. Payment of delinquent taxes in installments. 1. Definitions.\nAs used in this section:\n (a) "Eligible delinquent taxes" means the combined amount of unpaid\ntaxes, special ad valorem levies, special assessments, and any penalties\nand interest which have accrued and which the county has bid for\npursuant to section forty-five of this act.\n (b) "Eligible owner" means an owner of small business property who\noccupies such property for such purposes.\n (c) "Small business" means property used for commercial purposes by a\nbusiness, the income of which did not exceed fifty thousand dollars and\nwhich did not employ more than twenty full time employees at any time\nsince the date on which such taxes became a lien.\n (d) "Income" means the net taxable income as defined by the internal\nrevenue code for the calendar year immediately preceding the date of\napplication for the installment payment of eligible delinquent taxes\npursuant to this section.\n 2. Installment payment of eligible delinquent taxes. The eligible\nowner may enter into an agreement with the county treasurer to pay\neligible delinquent taxes in installments, as provided in this section,\nat a date no earlier than one year after the date on which the eligible\ndelinquent taxes became a lien nor no later than three months prior to\nthe last date on which the property may be redeemed pursuant to section\nforty-nine of this act, provided that all provisions of this section are\nmet. The burden of proof of eligibility for the provisions of this\nsection shall be on the applicant. The applicant shall submit\ndocumentation to the treasurer which the treasurer shall deem to be\nconsistent with the provisions of this section and necessary to\ndetermine the eligibility of such applicant.\n 3. Agreement to pay installment taxes. An eligible owner shall be\npermitted to enter into an agreement to pay eligible delinquent taxes in\ninstallments, as provided in this section, only where:\n (a) All taxes, special ad valorem levies and special assessments\nlevied subsequent to the eligible delinquent taxes are paid prior to\napproval of such agreement; or\n (b) Such eligible owner is not the owner of another parcel or parcels\nwithin the county against which a tax lien had been sold for unpaid\ntaxes within three years of the date of the creation of the lien\napplicable to eligible delinquent taxes.\n 4. Agreement to pay eligible delinquent taxes in installments. The\nagreement to pay eligible delinquent taxes in installments shall be kept\non file in the office of the county treasurer and shall be governed by\nthe provisions of this subdivision. The agreement shall provide:\n (a) The term of the agreement, which shall not exceed twenty-four\nmonths;\n (b) The payment schedule, which shall be no less than bi-weekly and\nmay be monthly, quarterly or semi-annually;\n (c) The payment shall be paid in equal installments on each payment\ndue date;\n (d) The interest on the total amount of eligible delinquent taxes,\nless the amount of down payment made by the eligible owner, shall be one\npercent more than the amount as determined pursuant to section\nthirteen-c of this act and at such rate in effect on the date that the\nagreement is signed which rate shall remain constant during the period\nof the agreement;\n (e) Where the amount of the installment is not received by the end of\nthe fifteenth calendar day after the payment due date, a five percent\ncharge shall be added to the amount due for that installment period;\n (f) For a down payment not to exceed twenty-five percent of eligible\ndelinquent taxes;\n (g) Prepayments can only be made with the consent of the county and\nonly in an amount equal to at least one installment sum, or any multiple\nthereof, and only at the time an installment payment is due; and\n (h) Each installment shall be due on the same calendar date as the\nagreement date.\n 5. Default. (a) The eligible owner shall be deemed to be in de
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