BILL NUMBER: S9541A
SPONSOR: SKOUFIS
 
TITLE OF BILL:
An act to amend the real property tax law, in relation to requiring that
tax amounts extended on the final assessment roll, and any interest or
penalties subsequently accruing thereon, be rounded to the nearest five-
cent denomination prior to inclusion on any bill or notice
 
PURPOSE:
Requires that tax amounts extended on the final assessment roll, and any
interest or penalties subsequently accruing thereon, be rounded to the
nearest five-cent denomination.
 
SUMMARY OF PROVISIONS:
Section 1: Amends Section 904 of the real property tax law by adding a
new subdivision 5 stating all tax amounts extended on the final assess-
ment roll shall be rounded to the nearest five-cent denomination prior
to the delivery of the warrant and the issuance of tax bills.
Section 2: Establishes the effective date.
 
JUSTIFICATION:
Our municipalities are on the precipice of a crisis. With pennies no
longer in production, tax offices will not be able to collect exact
taxes from tax payers who pay with cash. If collectors are not able to
collect exact amounts or produce change for payers, they will leave
these properties in default. This could lead to a low fund balance for
many municipalities, especially those with large populations of seniors
who often pay taxes in cash. This bill is designed so that collectors
will be able to accept tax payments up to 5 cents over, and 5 cents
under the actual tax amount so that property taxes can be collected and
municipalities can have the cash on hand that they need to function
productively.
 
PRIOR LEGISLATIVE HISTORY:
New Bill
 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENT:
TBD
 
EFFECTIVE DATE:
This act shall take effect on the first of January next succeeding the
date on which it shall have become a law.

Statutes affected:
S9541: 924 real property tax law
S9541A: 904 real property tax law