Section 1501.
§ 1501. Department; commissioner. There shall be a department of
finance, the head of which shall be the commissioner of finance.
Section 1502.
§ 1502. Deputies. The mayor may appoint three deputy commissioners. In
addition, the mayor shall appoint one deputy commissioner whose
functions shall be to serve as the city sheriff. The commissioner and
deputy commissioners shall provide a bond. The first deputy commissioner
shall supervise and be responsible for the operations of the parking
violations bureau.
Section 1503.
§ 1503. Powers and duties of the commissioner. In the performance of
his or her functions, the commissioner shall have, in addition to such
others as may be conferred upon such commissioner from time to time by
law, the power and duty to prepare and disburse payroll checks upon a
master warrant prepared by the comptroller as prescribed in the
administrative code.
Section 1504.
§ 1504. Functions of the department. Except as otherwise provided by
law, the department shall perform those functions and operations of the
city which relate to the administration and collection of all taxes,
assessments and charges imposed by the city, the collection of arrears
due the city and all other sums due the city, including state and
federal aid, the receipt and safekeeping of all moneys paid into the
city treasury and payment of money out of the treasury, and the
administration and management of certain trust funds held by the city,
including, without limitation, the following:
1. Real property assessment. With respect to real property tax
assessment, the department shall assess for taxation all the taxable
real property in the city and prepare the assessment rolls. The
commissioner shall appoint, within the appropriation therefor, as many
assessors as shall be necessary for the performance of such functions in
accordance with the provisions of this chapter.
2. Tax collection. a. The department shall administer all excise and
non-property taxes imposed or administered by the city. With respect to
such taxes, the department shall have the power to settle and adjust all
claims in favor of or against the city and, except with respect to cases
within the jurisdiction of the tax appeals tribunal established by
section one hundred sixty-eight of this charter, to make determinations
in contested cases. For such purposes, the commissioner or his delegate
may, except with respect to cases within the jurisdiction of such tax
appeals tribunal, hold hearings and administer oaths.
b. The department shall collect all real property taxes, water and
sewer charges, other assessments and arrears against real property and
all other taxes, assessments and arrears payable to the city.
c. Notwithstanding the provisions of any general, special or local law
to the contrary, the commissioner shall have the exclusive authority to
compromise any excise or nonproperty taxes or annual vault charges or
any warrant or judgment for excise or nonproperty taxes or annual vault
charges administered by the commissioner, and the civil penalties,
interest and additions to tax or charge in connection therewith, if the
tax debtor has been discharged in bankruptcy, or is shown by proofs
submitted to be insolvent, but the amount payable in compromise shall in
no event be less than the amount, if any, recoverable through legal
proceedings, and provided that where the amount owing for excise or
nonproperty taxes or annual vault charges, exclusive of any civil
penalties, interest and additions to tax or charge, or the warrant or
judgment, exclusive of any civil penalties, interest and additions to
tax or charge, is more than one hundred thousand dollars, such
compromise shall be effective only when approved by a justice of the
supreme court.
d. Notwithstanding the provisions of any general, special or local law
to the contrary, the commissioner shall have the exclusive authority to
compromise civil liability, with such qualifications and limitations as
may be established pursuant to such rules as the commissioner may
prescribe, where such liability arises in connection with an excise or
nonproperty tax or annual vault charge administered by the commissioner,
at any time prior to the time the tax or administrative action becomes
finally and irrevocably fixed and no longer subject to administrative
review. Upon acceptance of an offer in compromise by the commissioner,
the matter may not be reopened except upon a showing of fraud,
malfeasance or misrepresentation of a material fact. The corporation
counsel may compromise any such liability after reference to the law
department for prosecution or defense at any time prior to the time the
tax or administrative action taken by the department is no longer
subject to administrative or judicial review. Whenever a compromise is
made by the department of any such liability, there shall be placed on
file in the office of the commissioner the opinion of the commissioner
or a deputy commissioner, with reasons therefor, with a statement of:
(i) the amount of excise or nonproperty tax or annual vault charge and
any other issues that may be the subject of such compromise, (ii) the
amount of interest, additions to the tax or penalty imposed by law on
the taxpayer or other persons against whom the administrative action was
taken by the department, and (iii) the amount actually paid in
accordance with the terms of the compromise. Notwithstanding the
preceding sentence, no such opinion shall be required with respect to
the compromise of any civil liability in which the unpaid amount of the
excise or nonproperty tax or annual vault charge that was the subject of
the administrative action (including any interest, additions to tax, or
penalty) is less than twenty-five thousand dollars.
e. Nothing in paragraph c or d of this subdivision shall be construed
to diminish or otherwise impair any power of the department exercised
pursuant to any other provision of law.
3. Deposit and payment of moneys in the city treasury; trust funds.
a. The department shall have the power and duty to provide for the
reception and safekeeping of all moneys paid into the treasury of the
city and for the payment of all moneys on warrants drawn by the
comptroller and countersigned by the commissioner.
b. The department shall administer and manage all trust funds received
or held by the city pursuant to a judgment, decree or order of any court
or under section eleven hundred twenty-three of the surrogate's court
procedure act, section ninety-nine-m of the general municipal law,
sections eighty-seven and three-h of the social services law, sections
four hundred twenty-six and four hundred thirty-two of the real property
law, section two hundred four of the lien law, and section five hundred
fifty-three of the county law, and in such administration it shall be
deemed to be acting in a fiduciary capacity. The department shall
provide for the receipt and safekeeping of all such moneys of the trust
funds held by the city and disburse the same on warrants signed by the
comptroller.
c. (i) Notwithstanding any provision of law to the contrary and unless
otherwise determined by the court which directed payment of the funds in
the first instance, for purposes of administering and managing the trust
funds, other than cemetery trust funds, enumerated in paragraph b of
this subdivision, whenever the department is permitted or required by
law to deposit such funds in a savings bank, trust company, bank, or
banking association, or to invest such funds in its discretion or in
legal investments for trustees or savings banks, the department may
combine all such trust funds into one or more common trust funds, which
may be deposited in such savings banks, trust companies, banks or
banking associations as are designated by the state comptroller pursuant
to section one hundred eighty-two of the state finance law, or invested
in legal investments for trustees or savings banks. Such funds, when
deposited in a savings bank, trust company, bank or banking association,
may be placed in demand or time deposit accounts, including time
certificates of deposit, and such deposits shall be either insured by a
federal deposit insurance corporation or fully collateralized by
securities acceptable to the state comptroller.
(ii) The department may retain trust funds temporarily pending
investment or deposit or to meet cash requirements in connection with
the deposit or withdrawal of such funds, but such temporary retention of
trust funds shall not deprive any owner or beneficiary of any income
therefrom to which the owner or beneficiary would otherwise be entitled
by law.
(iii) When trust funds are received by the department it shall
forthwith open and maintain a separate ledger account for each action,
proceeding or matter and shall keep an exact accounting of all such
funds and all income earned thereon in such manner as the state
comptroller may prescribe.
4. Parking violations bureau. The department shall operate and control
the parking violations bureau. The commissioner shall appoint the
director of the bureau, deputy director and all other officers and
employees of the bureau, and hearing examiners.
Section 1505.
§ 1505. Real property tax assessment. The department shall have those
powers and duties with respect to the assessment of real property for
taxation as are prescribed by this chapter and, in addition such other
powers and duties as may be conferred upon it by law. The department
shall maintain in each borough an office for the performance of such
powers and duties.
Section 1506.
§ 1506. Duties of the assessors. The assessors, under the direction of
the commissioner, shall assess all the real property in the several
districts that may be assigned to them by the commissioner and shall
prepare the assessment rolls. The term "assessment" shall mean a
determination by the assessors of (a) the taxable status of real
property as of the taxable status date; and (b) the valuation of real
property, including the valuation of exempt real property, and where
such property is partially exempt, the valuation of both the taxable and
exempt portions.
Section 1507.
§ 1507. Taxable status of property. The taxable status of all real
property assessable for taxation in the city shall be fixed for the
succeeding fiscal year on the fifth day of January in each year.
Section 1508.
§ 1508. Assessment of real property. The assessors shall commence to
assess real estate on the first day of July in each year, not a
Saturday, Sunday or legal holiday.
Section 1509.
§ 1509. Statement of assessed valuation. An assessor or other person
designated by the commissioner shall compute from the annual record of
the assessed valuation of real estate in each borough the total
aggregate amount of the assessed valuation of real property appearing on
such annual record for such borough, and shall transmit a statement of
such aggregate amount to the commissioner on or before the fifth day of
January in each year.
Section 1510.
§ 1510. Annual record of assessed valuation; public inspection. The
books of the annual record of the assessed valuation of real estate
shall be opened to the public not later than the fifteenth day of
January in each year, not a Saturday, Sunday or legal holiday, and
remain open during the usual business hours for public inspection and
examination until the first day of March thereafter. The commissioner,
previous to and during the time such books are open to public
inspection, shall advertise such fact in the City Record and in such
other newspaper or newspapers published in the several boroughs as may
be authorized by the director of the City Record with the approval of
the mayor and the comptroller.
Section 1511.
§ 1511. Notice of increase in assessed valuation of real property.
The department or division responsible for the assessment of real
property shall, upon an increase in assessed valuation of real property,
notify the owner, as recorded in said department or division, of such
increase by first-class mail at least thirty days prior to the final
date for filing any appeal. The department or division shall notify the
commissioner of the mailing of such notices by the filing of an
affidavit of such mailing in the main office of the department.
Section 1512.
§ 1512. Annual record of assessed valuation, additions and changes.
During the time the books of the annual record of the assessed valuation
of real estate remain open for public inspection and examination, and,
in the case of real estate other than residential real estate, during an
additional period ending the tenth day of May in each year, the
commissioner may place on such books any real estate and also the
assessed valuation of any such real estate that may have been omitted
from such books on the day of the opening thereof, and may increase or
diminish the assessed valuation of any real estate as in the
commissioner's judgment may be just or necessary for the equalization of
taxation; but no such addition to the books and no such increase in
assessed valuation shall be made, except upon mailing ten days' prior
written notice addressed to the person whose name appears on the records
in the office of the city collector as being the owner or agent of the
owner of the real estate affected thereby at the last known address of
such owner or agent. Where no name appears on such records such notice
shall be sent to the premises addressed to either the owner or agent. An
affidavit of such mailing shall be filed in the main office of the
department. When such notice is mailed after the first day of February,
such owners may apply for a correction of such assessment so added or so
increased within twenty days after the mailing of such notice with the
same force and effect as if such application were made on or before the
first day of March in such year. For purposes of this section the term
"residential real estate" shall include but not be limited to one and
two-family homes and multiple dwellings (including co-operative and
condominium dwelling units), but shall not include hotels, apartment
hotels and motels.
Section 1513.
§ 1513. Apportionment of assessments. When any separately assessed
parcel of real estate shall have been divided prior to the first day of
June, the commissioner may apportion the assessment thereof in such
manner as may be provided by law.
Section 1514.
§ 1514. Assessment rolls; preparation and delivery. 1. Commencing
immediately after the close of the period for public inspection and
examination of the books of annual record of the assessed valuation of
real estate, the commissioner shall cause to be prepared, from such
books, assessment rolls for each borough in such manner as shall be
provided by law.
2. As soon as such rolls are completed, the commissioner shall annex
to each of such rolls a certificate that the same is correct in
accordance with the entries and corrected entries in the several books
of annual record. The rolls so certified must, on or before the
twentieth day of June in each year, be delivered by the commissioner to
the council.
Section 1515.
§ 1515. Statement and estimate by the mayor. a. The mayor shall
prepare and submit to the council, immediately upon the adoption of a
single budget pursuant to section two hundred fifty-four, a statement
setting forth the amount of the budget as approved by the council for
the ensuing year and the mayor shall prepare and submit to the council
not later than the fifth day of June an estimate of the probable amount
of (1) receipts into the city treasury during the ensuing fiscal year
from all the sources of revenue of the general fund and (2) all receipts
other than those of the general fund and taxes on real property. The
mayor may include in the statement of the amount of the budget as
approved by the council a confirmation of such amount, and thereby waive
mayoral veto power pursuant to section two hundred fifty-five.
b. If, as a result of the exercise of the mayor's veto pursuant to
section two hundred fifty-five, the amount of the budget for the ensuing
fiscal year differs from the amount of the budget approved by the
council pursuant to section two hundred fifty-four, not later than two
days after the budget is finally adopted the mayor shall prepare and
submit to the council a statement setting forth the amount of the budget
for the ensuing year, and the council shall, if necessary, fix new
annual tax rates pursuant to subdivision c of section one thousand five
hundred sixteen.
c. The mayor, prior to establishing the final estimate of revenues
for the ensuing fiscal year as required by this section, shall consider
any alternative estimate of revenues which is submitted pursuant to
subdivision d of this section and which is accompanied by a statement of
the methodologies and assumptions upon which such estimate is based in
such detail as is necessary to facilitate official and public
understanding of such estimates.
d. Any person or organization may, prior to the fifteenth day of May,
submit to the mayor an official alternative estimate of revenues for
consideration by the mayor in accordance with subdivision c. Such
estimate shall be in a form prescribed by the mayor.
Section 1516.
§ 1516. Fixing of tax rates. a. The council shall fix the annual
tax rates immediately upon the approval of the budget pursuant to
section two hundred fifty-four. The council shall deduct the total
amount of receipts as estimated by the mayor from the amount of the
budget, for the ensuing fiscal year, and shall cause to be raised by tax
on real property such sum as shall be as nearly as possible but not less
than, the balance so arrived at, by fixing tax rates in cents and
thousandths of a cent upon each dollar of assessed valuation. The tax
rates shall be such to produce a balanced budget within generally
accepted accounting principles for municipalities.
b. If a single budget has not been adopted by the fifth day of June
pursuant to subdivision b of section two hundred fifty-four, the tax
rates adopted for the current fiscal year shall be deemed to have been
extended for the new fiscal year until such time as a new budget is
adopted.
c. In the event the mayor exercises the veto power pursuant to
section two hundred fifty-five, the council shall, if necessary, fix new
annual rates not later than the date the budget is finally adopted, in
accordance with the requirements of subdivision a of this section.
Section 1516-a.
§ 1516-a. Fixing of tax rates. Notwithstanding the provisions of
sections fifteen hundred sixteen, fifteen hundred seventeen and fifteen
hundred eighteen or any other provisions of law to the contrary:
(a) If the city council has not fixed the tax rates for the ensuing
fiscal year pursuant to section fifteen hundred sixteen on or before the
fifth day of June, the commissioner of finance shall be authorized to
complete the assessment rolls using estimated rates and to collect the
sums therein mentioned according to law. The estimated rates shall equal
the tax rates for the current fiscal year.
(b) If, subsequent to the fifth day of June, the council shall,
pursuant to section fifteen hundred sixteen, fix the tax rates for the
ensuing fiscal year at percentages differing from the estimated rates,
real estate tax payments shall nevertheless be payable in accordance
with subdivision a of this section at the estimated rates. However, in
such event, prior to the first day of January in such fiscal year, the
commissioner of finance shall cause the completed assessment rolls to be
revised to reflect the tax rates fixed by the council pursuant to
section fifteen hundred sixteen, and an amended bill for the installment
or installments for such fiscal year due and payable on or after the
first day of January shall be submitted to each taxpayer in which
whatever adjustment may be required as a result of the estimated bill
previously submitted to the taxpayer shall be reflected.
Section 1517.
§ 1517. Completion of assessment rolls. At such annual meeting the
council shall cause to be set down in the assessment rolls, opposite to
the several sums set down as the valuation of real property, the
respective sums, in dollars and cents, to be paid as a tax thereon,
rejecting the fractions of a cent. It shall also cause to be added and
set down the aggregate valuations of the real property in the several
boroughs, and shall transmit to the comptroller of the state by mail a
certificate of such aggregate valuation in each borough.
Section 1518.
§ 1518. Collection of the real property tax. 1. Immediately upon the
completion of the assessment rolls, the city clerk shall procure the
proper warrants authorizing and requiring the commissioner to collect
the several sums therein mentioned according to law. Such warrants need
be signed only by the public advocate and counter-signed by the city
clerk. Immediately thereafter and on or before the thirtieth day of
June, the assessment rolls of each borough, as corrected according to
law and finally completed, or a fair copy thereof, shall be delivered by
the public advocate to the commissioner with the proper warrants, so
signed and counter-signed, annexed thereto. At the same time the public
advocate shall notify the comptroller of the amount of taxes in each
book of the assessment rolls so delivered.
2. The commissioner upon receiving the assessment rolls and warrants
shall immediately cause the assessment rolls and warrants to be filed in
the respective borough offices.
Section 1519.
§ 1519. Real property taxes due and payable. The commissioner,
immediately after receiving the assessment rolls, shall give notice for
at least five days in the City Record that the assessment rolls have
been delivered to the commissioner and that all taxes shall be due and
payable at the commissioner's office as follows:
1. a. With respect to all properties which are:
(1) real property with an assessed valuation of forty thousand dollars
or less on such assessment roll, except such property held in a
cooperative form of ownership;
(2) real property held in a cooperative form of ownership, provided
that the assessed valuation on such assessment roll of such property
divided by the number of dwelling units contained in such property shall
equal forty thousand dollars or less;
(3) for the fiscal year commencing on the first day of July, nineteen
hundred ninety-eight, and for each fiscal year thereafter, real property
(i) with an assessed valuation of eighty thousand dollars or less on
such assessment roll, except such property held in a cooperative form of
ownership, and (ii) classified as class one or class two in accordance
with subdivision one of section eighteen hundred two of the real
property tax law as such subdivision was in effect on January fifth,
nineteen hundred ninety-seven; and
(4) for the fiscal year commencing on the first day of July, nineteen
hundred ninety-eight, and for each fiscal year thereafter, real property
held in a cooperative form of ownership, provided that (i) the assessed
valuation on such assessment roll of such property divided by the number
of dwelling units contained in such property shall equal eighty thousand
dollars or less, and (ii) such property is classified as class one or
class two in accordance with subdivision one of section eighteen hundred
two of the real property tax law as such subdivision was in effect on
January fifth, nineteen hundred ninety-seven; all taxes upon real estate
for each fiscal year shall be due and payable in four equal installments
each of which shall be due and payable in such year as follows: the
first payment on the first day of July, the second payment on the first
day of October, the third payment on the first day of January, the
fourth payment on the first day of April. However, if any property is
acquired by the city in condemnation proceedings, the proportionate
share of the amount of the tax on such property which would be due and
payable on the next succeeding installment date, shall be due and
payable on the date when the title to such property vests in the city.
b. With respect to real property other than such property listed in
paragraph a of this subdivision one, for the fiscal year commencing on
the first day of July nineteen hundred eighty-three and for each fiscal
year thereafter: all taxes upon real estate for each fiscal year shall
be due and payable in two equal installments, the first of which shall
be due and payable on the first day of July in such year, and the second
of which shall be due and payable on the first day of January in such
year. However, if any property is acquired by the city in condemnation
proceedings, the proportionate share of the amount of the tax on such
property which would be due and payable on the next succeeding
installment date, shall be due and payable on the date when the title to
such property vests in the city.
2. All taxes shall be and become liens on the real estate affected
thereby and shall be construed as and deemed to be charged thereon on
the respective days when they become due and payable, and not earlier,
and shall remain such liens until paid.
3. Any installment of taxes on real estate for any fiscal year may be
paid, in full or in part, twenty-five days prior to the date on which
the first installment for such fiscal year would otherwise become due
and payable or at any time thereafter and, provided that payment of any
installment or part thereof is made not later than fifteen days prior to
the date that such installment would otherwise become due and payable
and provided that all prior installments shall have been paid or shall
be paid at the same time, a discount shall be allowed from the date of
payment of such installment or part thereof to and including the
fifteenth day of the calendar month on which such installment would
otherwise become due and payable at the rate fixed by the council and a
receipt shall be furnished to the extent of such payment and the
discount thereon. Upon payment of any such installment or part thereof
prior to the date such installment would otherwise become due and
payable, such installment or part thereof shall be deemed due and
payable and shall be satisfied and extinguished to the extent of the
amount so paid plus the discount provided for herein. Not later than the
fifteenth day of May in each year, the banking commission shall transmit
a written recommendation to the council of the proposed discount rate
for the ensuing fiscal year. The council may adopt a discount rate for
such ensuing fiscal year on the fifth day of June preceding such ensuing
fiscal year or at any time thereafter. As used in this subdivision, the
words "taxes on real estate," in the case of utility companies, shall
also include special franchise taxes.
4. a. (1) Notwithstanding anything in subdivision three to the
contrary, the discount allowed pursuant to such subdivision shall not be
allowed to and including the fifteenth day of the calendar month in
which an installment of taxes on real property would otherwise become
due and payable if the real property with respect to which such
installment is paid is described in paragraph b of this subdivision.
With respect to real property described in paragraph b, the discount
shall be allowed only to and including the date on which an installment
of taxes becomes due and payable.
(2) Notwithstanding anything in subdivision three to the contrary, no
discount shall be allowed with respect to an installment of taxes on
real property described in paragraph b of this subdivision unless such
installment is paid no later than thirty days prior to the date on which
such installment becomes due and payable.
b. Real property is described in this paragraph if:
(1) its assessed valuation is more than forty thousand dollars,
provided that, for this purpose, real property held in a cooperative
form of ownership shall not be deemed to have an assessed valuation of
more than forty thousand dollars if its assessed valuation divided by
the number of dwelling units contained therein equals forty thousand
dollars or less, except that for the fiscal year commencing on the first
day of July, nineteen hundred ninety-eight, and for each fiscal year
thereafter, such property shall not include real property with an
assessed valuation of eighty thousand dollars or less, provided that,
for this purpose, real property held in a cooperative form of ownership
shall not be deemed to have an assessed valuation of more than eighty
thousand dollars if its assessed valuation divided by the number of
dwelling units contained therein equals eighty thousand dollars or less,
and provided, further, that such real property or such real property
held in a cooperative form of ownership is classified as class one or
class two in accordance with subdivision one of section eighteen hundred
two of the real property tax law as such subdivision was in effect on
January fifth, nineteen hundred ninety-seven; or
(2) irrespective of its assessed valuation, real property taxes on
such property are held in escrow and paid to the commissioner by a
mortgage escrow agent.
c. For purposes of this subdivision, the term "mortgage escrow agent"
shall include every banking organization, federal savings bank, federal
savings and loan association, federal credit union, bank, trust company,
licensed mortgage banker, savings bank, savings and loan association,
credit union, insurance corporation organized under the laws of any
state other than New York, or any other person, entity or organization
which, in the regular course of its business, requires, maintains or
services escrow accounts in connection with mortgages on real property
located in the city.
5. The provisions of this section shall not apply to any installment
of tax that becomes due and payable on or after July first, two thousand
five.
Section 1519-a.
§ 1519-a. Real property taxes due and payable. The commissioner,
immediately after receiving the assessment rolls, shall give notice for
at least five days in the City Record that the assessment rolls are
final and that all taxes shall be due and payable as follows:
1. The provisions of this section shall apply to any installment of
tax that becomes due and payable on or after July first, two thousand
five.
2. Real property with an assessed value of two hundred fifty thousand
dollars or less.
(a) Quarterly installments. All property taxes shall be due in four
equal installments.
(b) Due date of installments. The first installment shall be due on
July first, the second installment shall be due on October first, the
third installment shall be due on January first and the fourth
installment shall be due on April first.
(c) Discount for early payment. A discount, at a percentage provided
for in subdivision seven of this section, shall be allowed for early
payment of an installment in accordance with this subdivision, as
follows:
(i) if all the installments due for a fiscal year are paid in full on
or before July fifteenth, a discount shall be allowed for such
installments.
(ii) if the installments due on October first, January first and April
first are paid in full on or before October fifteenth, a discount shall
be allowed for such installments.
(iii) if the installments due on January first and April first are
paid in full on or before January fifteenth, a discount shall be allowed
for such installments.
3. Real property with an assessed value of over two hundred fifty
thousand dollars.
(a) Semi-annual installments. All property taxes shall be due in two
equal installments.
(b) Due date of installments. The first installment shall be due on
July first and the second installment shall be due on January first.
(c) Discount for early payment. A discount, at a percentage provided
for in subdivision seven of this section, shall be allowed for early
payment of installments if all the installments due for a fiscal year
are paid in full on or before July first.
4. Cooperative property. For purposes of this section, property held
in the cooperative form of ownership shall not be deemed to have an
assessed value of over two hundred fifty thousand dollars if the
property's assessed value divided by the number of residential dwelling
units is two hundred fifty thousand dollars or less per unit.
5. For purposes of this section, a property's assessed value shall be
based on the assessed value listed on the final assessment roll on or
around May twenty-fifth.
6. All taxes shall be and become liens on the property on the date
such taxes become due and payable, and shall remain liens until paid.
7. Calculation of discount for early payment.
(a) Calculation of discount. Where a discount is allowed under this
section, the discount shall be a percentage of the installments paid.
(b) Determination of discount percentage. Not later than the
twenty-fifth day of May in each year, the banking commission shall send
a written recommendation to the council of a proposed discount
percentage for the ensuing fiscal year.
(c) The council may adopt a discount percentage on the fifth day of
June preceding such ensuing fiscal year, or at any time thereafter.
(d) If the council does not adopt a discount percentage prior to the
date that the statement of account or other similar bill or statement is
prepared, a discount percentage of one and one-half percent shall be
used to determine the discount provided where a discount is allowed for
payments made on or before the last day that the installment due July
first could be paid without interest, and this percentage shall continue
to apply until the council adopts a discount percentage pursuant to
paragraph (c) of this subdivision.
(e) Application of discount percentages.
(i) For properties the taxes for which are due in quarterly or
semi-annual installments, the discount percentage applied for payments
made on or before the last day that the installment due July first could
be paid without interest, as set forth in subparagraph (i) of paragraph
(c) of subdivision two of this section or paragraph (c) of subdivision
three of this section, shall be the percentage established pursuant to
paragraph (c) of this subdivision or, where applicable, paragraph (d) of
this subdivision.
(ii) For properties the taxes for which are due in quarterly
installments, the discount percentage applied for payments made on or
before October fifteenth, as set forth in subparagraph (ii) of paragraph
(c) of subdivision two of this section, shall be two-thirds of the
discount percentage described in subparagraph (i) of this paragraph.
(iii) For properties the taxes for which are due in quarterly
installments, the discount percentage applied for payments made on or
before January fifteenth, as set forth in subparagraph (iii) of
paragraph (c) of subdivision two of this section, shall be one-third of
the discount percentage described in subparagraph (i) of this paragraph.
(f) A discount shall be allowed only if all prior installments have
been paid or are paid at the same time as the payments for which a
discount would apply.
(g)(i) The commissioner may provide a discount, at a percentage not
more than two times the discount percentage established pursuant to
paragraph (c) or (d) of this subdivision, to taxpayers who pay their
real property taxes by electronic funds transfer. This subparagraph
shall apply only to taxpayers who are not required by law to pay their
real property taxes by electronic funds transfer. The commissioner shall
establish such discount percentage by rule and may promulgate such other
rules as may be necessary to implement this subparagraph.
(ii) The commissioner may provide a discount, at a percentage not more
than two times the discount percentage established pursuant to paragraph
(c) or (d) of this subdivision, to taxpayers whose annual real property
tax liability exceeds one million dollars and who pay their real
property taxes before the date such taxes become due and payable, where
the commissioner determines by rule that it would be in the best
interests of the city to provide an incentive for such payment by a
specified date and at a specified discount percentage. The commissioner
may promulgate such other rules as may be necessary to implement this
subparagraph.
8. As used in this section, "taxes" shall include special franchise
taxes in the case of utility companies.
9. If property is acquired by the city in a condemnation proceeding,
on the date that title vests in the city, any tax due prior to the title
vesting date, and interest, shall be due and payable, and shall become
an equitable lien with first priority against any condemnation award.
Section 1520.
§ 1520. Interest and penalties on real property taxes. The
commissioner shall charge, receive and collect the interest and
penalties upon taxes on real estate not paid when due and payable in
such manner and at such rates as shall be provided by law, provided,
however, where such taxes are not escrowed, and where such interest does
not exceed five dollars, it shall be forgiven.
Section 1521.
§ 1521. Right of entry. The commissioner or any assessor may, in
accordance with law, enter upon real property and into buildings and
structures at all reasonable times to ascertain the character of the
property. Refusal by the owner or the agent of such owner to permit
such entry shall be a misdemeanor triable by a judge of the criminal
court of the city of New York and punishable by not more than thirty
days' imprisonment or a fine of not more than fifty dollars, or both.
Section 1522.
§ 1522. Warrants. No money shall be paid out of the treasury except on
a warrant authorized by law, signed by the comptroller and countersigned
by the commissioner of finance which shall refer to the law under and to
the appropriation against which it is drawn. No warrant shall be paid
on account of any appropriation after the amount authorized to be raised
for the purpose specified in the appropriation shall have been expended.
In counter-signing warrants drawn by the comptroller, the commissioner
shall be under no duty of inquiring as to the legality or propriety
thereof but may rely on the comptroller's signature thereto.
Section 1523.
§ 1523. Deposits. 1. The commissioner shall deposit all moneys which
shall come into the commissioner's hands on account of the city on the
day of receipt thereof, or on the business day next succeeding, in such
banks and trust companies as shall have been designated as deposit
banks, but no amount shall be on deposit at any one time in any one bank
or trust company exceeding one-half of the amount of the capital and net
surplus of such bank or trust company. The moneys so deposited shall be
placed to the account of the commissioner who shall keep a record in
which shall be entered the commissioner's accounts of deposits in, and
moneys drawn from, the banks and trust companies in which the deposits
shall be made. Each such bank and trust company shall transmit to the
comptroller a weekly statement of the moneys which shall be received and
paid by it on account of the commissioner.
2. The commissioner shall draw moneys of the city from said banks or
trust companies only by checks subjoined and attached to warrants and
subscribed by the commissioner or by payment orders duly authorized by
the comptroller and the commissioner, and no moneys shall be paid by any
such banks or trust companies on account of the commissioner except upon
such checks or orders; but this provision shall not apply to transfers
of such funds from one city depository to another.
3. The commissioner of finance, in consultation with agency heads,
shall by rule establish criteria by which to evaluate whether banks are
using the means at their disposal to comply with the embargo on trade
and financial transactions with Burma and any other sanctions imposed by
the United States government with regard to Burma, including but not
limited to:
a. withdrawal of operations from Burma;
b. the denial of loans, letters of credit and other correspondent
banking services to Burmese entities;
c. restrictions on the rescheduling of loans owed by Burmese entities,
and on conversion of outstanding loans to instruments having longer
maturity dates; and
d. divestiture of outstanding debt owed by Burmese entities.
The commissioner shall, after offering banks designated pursuant to
section fifteen hundred twenty-four and the public an opportunity to be
heard, classify such banks according to such criteria and publish notice
of such classification in the City Record. The commissioner may at any
time, upon the request of a bank or at his or her own initiative and
after offering the public and the bank an opportunity to be heard,
change the classification of a bank and publish notice of such change.
The failure of a bank to provide information requested by the
commissioner for the purposes of this subdivision shall be grounds for
the commissioner to lower the classification of the bank. When choosing
among banks offering comparable services at a comparable cost, city
agencies shall, in a manner consistent with guidelines established by
the commissioner of finance, seek to deposit or invest funds at, and
obtain services from, the available banks that have received the highest
classification.
Section 1524.
§ 1524. Deposit banks. 1. The banking commission which consists of the
mayor, the commissioner and the comptroller shall, by majority vote, by
written notice to the commissioner, designate the banks or trust
companies in which all moneys of the city shall be deposited, and may by
like notice in writing from time to time change the banks and trust
companies thus designated. The banking commission shall notify the
council within thirty days of receiving an application for designation
or redesignation, and shall also notify the council within thirty days
of approving or denying such application and, if designation or
redesignation was denied, the basis for denial.
2. a. No bank or trust company shall be designated pursuant to this
section unless:
(1) it shall agree to pay into the city treasury interest or to
provide the city with equivalent value on the daily balances at a rate
which the banking commission shall negotiate according to the current
rate of interest upon like balances deposited in banks and trust
companies in the city by private persons or corporations; and
(2) it shall file with the banking commission and city clerk a
certificate signed by the president or other duly authorized officer of
such bank setting forth that its board of directors has established and
will adhere to a policy of hiring and promotion of employees and
officers without regard to sex, race, color, religion, religious
affiliation, national origin, disability, age, marital status, or sexual
orientation, which certificate shall further set forth affirmatively the
steps taken by the bank or trust company to implement said policy.
(3) it does not provide the following services, either directly or
through a subsidiary or agent, to the Government of Burma; (a)
advertising or otherwise promoting the sale, outside of Burma, coins
minted in Burma, (b) underwriting securities of the Government of Burma,
or (c) making loans to the Government of Burma.
(4) it has certified that neither it nor any of its affiliates is or
will become a predatory lender or an affiliate thereof, as such terms
are defined in section 6-128 of the administrative code of the city of
New York.
b. If the banking commission by a majority vote shall decide that a
requirement or condition contained in paragraph a of this subdivision
has been violated after giving the bank or trust company an opportunity
to be heard, then upon thirty days' notice to the bank or trust company
such designation may be revoked. The banking commission shall post
notice of such revocation and the reason for such revocation on the
department's website.
3. The commissioner may, with the approval of the comptroller, make
time deposits of city moneys, for a period not to exceed six months, in
any bank or trust company designated for deposit of city funds. Each
such bank or trust company shall before deposits are made, other than
such as are of a temporary character and specifically relate to the
current business of the city, execute and file with the commissioner a
bond to the city in such form and in such amount as may be prescribed
and approved by the commissioner and the comptroller for the safekeeping
and prompt payment of city moneys on demand with interest at the rate
agreed upon and, as security for such funds, shall deposit with the
comptroller outstanding unmatured obligations of the United States of
America, or any obligation fully guaranteed or insured as to interest
and principal by the United States of America acting through an agency,
subdivision, department or division thereof, obligations of the state of
New York or obligations of the city of New York, the value of which at
the existing prices on the open market shall be equal to the estimated
amount of the proposed deposit, for which the comptroller shall deliver
a certificate of deposit containing the condition of such bond.
4. On the withdrawal of all or a part of the funds deposited in any
depository and a closing or depleting of the account thereof, or in the
event of the deposit actually made being less than the estimated amount
of such deposit, the commissioner and the comptroller shall certify to
such settlement or depletion or difference and direct the surrender of
the whole or a proportionate share of the securities so deposited to the
owner or owners thereof.
Section 1524-A.
§ 1524-A. Community investment advisory board. 1. There is hereby
established within the department an advisory board known as the
community investment advisory board, which shall perform the following
functions:
a. Conduct a needs assessment every two years, the first of which
shall be published on the department's website on or before March 1,
2014. In conducting such needs assessment the board shall (1) assess the
credit, financial and banking services needs throughout the City with a
particular emphasis on low and moderate income individuals and
communities, by means including but not limited to (i) convening at
least one public hearing in each borough of the city; (ii) accepting,
reviewing and considering public comments which describe the nature and
extent of such needs; and (iii) considering the data and information
collected by the board pursuant to subdivision 3 of this section; and
(2) establish benchmarks, best practices, and recommendations for
meeting the needs identified in such needs assessment, by, among other
things, considering the data and information collected by the board
pursuant to subdivision 3 of this section; and
b. Issue an annual report in plain language, the first of which shall
be published on the department's website and transmitted to the banking
commission on or before March 1, 2015 and each March first thereafter,
which may be considered by the banking commission in reviewing a bank's
application for designation or redesignation as a deposit bank, covering
the preceding fiscal year, which (i) addresses how each bank that is
designated as a deposit bank pursuant to section 1524 of the charter is
meeting the needs identified pursuant to paragraph a of this subdivision
and subdivision 3 of this section, including an evaluation of how each
bank performed relative to the benchmarks and best practices applicable
to such bank as established by the board pursuant to the needs
assessment required pursuant to paragraph a of this subdivision, (ii)
identifies areas of improvement from past evaluations, where applicable,
and areas where improvement is necessary, taking into account the
information collected by the board pursuant to subdivision 3 of this
section, (iii) specifically identifies any deposit bank's failure to
provide information requested in writing by the board pursuant to
subdivision 3 of this section that is applicable to such deposit bank,
(iv) summarizes written comments submitted to the board pursuant to
subdivision 4 of this section and the role played by such comments; and
(v) summarizes, in tabular format, the data collected by the board
pursuant to paragraphs a through g of subdivision 3 of this section, and
to the extent not deemed confidential or proprietary by the bank,
paragraph h, at the community district, borough, and citywide levels of
aggregation. For purposes of this section, "fiscal year" shall mean the
period from July first to June thirtieth.
2. The board shall consist of eight members who shall be: the mayor or
his or her designee, the comptroller or his or her designee, the speaker
of the council or his or her designee, the commissioner of the
department of housing preservation and development, the commissioner of
the department of finance, a member of a community-based organization
whose principal purpose is community and/or economic development, or
consumer protection who shall be designated by the speaker, a
representative of an organization or association that represents small
business owners who shall be designated by the speaker and a
representative of the city banking industry who shall be designated by
the mayor. The mayor, comptroller, speaker and commissioners shall serve
for the duration of their tenure. The three nongovernmental members
shall serve four years from the date of their appointment, or through
the issuance of two needs assessments pursuant to paragraph a of
subdivision 1 of this section, whichever is longer, and be eligible for
reappointment; provided, however, that each member shall serve until his
or her qualified successor is appointed. Any vacancy occurring other
than by expiration of term shall be filled in the same manner as the
original position was filled for the unexpired portion of the term.
Members shall serve without compensation. The members of the board shall
be appointed within sixty days of the effective date of the local law
that added this section.
3. In performing its functions as set forth in subdivision 1 of this
section, the board shall seek to collect and consider information at the
census tract level, relating to the credit, financial and banking
services needs throughout the City and the extent to which such needs
are being met, including but not limited to, information, to the extent
applicable, regarding each deposit bank's efforts to:
a. address the key credit and financial services needs of small
businesses;
b. develop and offer financial services and products that are most
needed by low and moderate income individuals and communities throughout
the city and provide physical branches;
c. provide funding, including construction and permanent loans and
investments, for affordable housing and economic development projects in
low and moderate income communities;
d. In the case of properties acquired by foreclosure and owned by the
bank, reasonably address serious material and health and safety
deficiencies in the maintenance and condition of the property;
e. conduct consumer outreach, settlement conferences, and similar
actions relating to mortgage assistance and foreclosure prevention, and
provide information, at the community district level to the board,
relating to mortgage and foreclosure actions, including, but not limited
to, total number of loans serviced and/or owned by the bank, total
number of loans that are at least sixty days delinquent, total number of
foreclosures commenced, total number of foreclosures prevented through
loan modification, short sales, deeds in lieu of foreclosure or other
mechanisms, total number of loan modifications applications, total
number of loan modifications made and denied, and bank owned properties
donated or sold at a discount;
f. partner in the community development efforts of the city;
g. positively impact on the city and its communities through
activities including, but not limited to, philanthropic work and
charitable giving; and
h. plan for and articulate how the bank will respond to the credit,
financial and banking services needs of the city identified by the needs
assessment pursuant to paragraph a of subdivision 1 of this section, as
applicable to the bank's type and size.
In performing the needs assessment pursuant to paragraph a of
subdivision 1 of this section, the board shall also consider, to the
extent practicable, the information listed in paragraphs a through g of
this subdivision relating to the efforts of the city's banking industry
as a whole.
4. In preparation for each annual report pursuant to paragraph b of
subdivision 1 of this section, the board shall publish all information
collected pursuant to paragraphs a through g of subdivision 3 of this
section, and to the extent not deemed confidential or proprietary by the
bank, paragraph h, summarized at the community district, borough, and
citywide levels of aggregation, for each deposit bank on the
department's website no later than November first of the year preceding
the issuance of the report. At least thirty days after such publication,
but no later than December fifteenth, the board shall hold a public
hearing at which the public may testify concerning the efforts and
extent to which the deposit banks are meaningfully addressing the credit
and financial needs throughout the city. The board shall also take
written comments for at least thirty days preceding such public hearing.
5. On or before March 1, 2013 and on or before March 1, 2014, the
board shall publish on the department's website, for each deposit bank,
the information collected pursuant to paragraphs a through g of
subdivision 3 of this section, and to the extent not deemed confidential
or proprietary by the bank, paragraph h, summarized at the community
district, borough, and citywide levels of aggregation. Each such
publication of information shall specifically identify any deposit
bank's failure to provide information requested in writing by the board
pursuant to subdivision 3 of this section that is applicable to such
deposit bank.
Section 1525.
§ 1525. City register. 1. There shall be within the department a city
register who shall be appointed by the mayor.
2. The functions, powers and duties formerly exercised by the
registers or registrars of the several counties shall remain with the
city register.
Section 1526
§ 1526 Office of city sheriff. 1. There shall be within the department
an office of the city sheriff which shall be subject to the supervision
and control of the commissioner of finance. Notwithstanding any other
provision of law, the commissioner of finance may exercise or assign
within the department such management functions of the office of the
sheriff, including but not limited to those functions related to the
appointment and removal of deputy sheriffs and other personnel of such
office pursuant to the civil service law, as he or she may deem
appropriate to achieve effective and efficient functioning and
management of such office.
2. Except as otherwise provided by law, the city sheriff shall
exercise the functions, powers and duties formerly exercised by the
sheriffs of the several counties.
Section 1527.
§ 1527. Contracts with collection agencies. 1. Notwithstanding any
other provisions of law to the contrary, the commissioner may enter into
contracts with collection agencies for the collection of (i) any or all
tax warrants and judgments for all city taxes subject to collection by
the department, other than real property taxes, or (ii) city water and
sewer charges, or both; provided however, that any such contract shall
be subject to the provisions of sections three hundred twelve and three
hundred thirteen.
2. Any such contract shall apply only to such tax warrants and
judgments and to such water and sewer charges as the commissioner may
refer to the collection agency, and shall be terminable at the will of
the commissioner.
3. The consideration to be paid to such collection agency may be a
percentage or percentages of the amount collected by such agency, or as
otherwise provided in the contract, but shall be within the amount
appropriated and available for such purpose.
4. No legal action to collect tax warrants and judgments or water and
sewer charges under any contract entered into pursuant to this section
shall be initiated without the express written permission of the
corporation counsel, and the selection of any attorney to take such
legal action shall be subject to the approval of the corporation
counsel.
5. Before beginning performance of a contract authorized by
subdivision one of this section, the contracting collection agency shall
give security for faithful performance and shall provide such insurance
policies, including but not limited to a comprehensive general liability
insurance, naming the city as a party in interest, as the commissioner
may require. The adequacy and sufficiency of such security and
insurance policies, as well as the justification and acknowledgement
thereof, shall be subject to the approval of the comptroller. The
commissioner, in his or her discretion, may require additional security
or insurance in such amounts and running to such city officers and
employees as the commissioner may require, to indemnify them for any
liability incurred by reason of any act or omission of such collection
agency.
6. No contract entered into pursuant to this section may be so worded
as to grant to any contracting collection agency the exclusive right to
perform any work authorized by this section.
To the extent possible under law, Friends of Devin Balkind for Public Advocate has waived all copyright and related or neighboring rights to New York City Administrative Code. This work is published from: United States.
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