City Council passes limited property tax reprieve, disappointing landlords

The New York City Council today gave landlords a slight reprieve on property taxes, but advocates for the industry called it insufficient. A bill sponsored by Public Advocate Jumaane Williams temporarily gives buildings assessed at less than $250,000 zero percent interest on late payments. A second piece of legislation, sponsored by City Council member Margaret Chin, allows certain property owners affected by Covid-19 to pay 7.5 percent — instead of 18 percent — for delinquent

source https://therealdeal.com/2020/06/25/city-council-passes-limited-property-tax-reprieve-disappointing-landlords/