Friday 28 February 2020

City Council closes tax-lien loophole that threatened property seizures

The City Council passed a measure to safeguard non-profits against tax liens for taxes they don’t technically owe. Although charitable organizations are exempt from property taxes, New York City sent 90-day notices to 610 such property owners in 2019, and sold off 27 liens, City & State reported. Six of those have settled their debt to avoid foreclosure. Councilmember Antonio Reynoso drafted the bill, which will require the Department of Finance to exclude from the



source https://therealdeal.com/2020/02/28/city-council-closes-tax-lien-loophole-that-threatened-property-seizures/

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