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The original item was published from 3/3/2023 3:55:32 PM to 3/3/2023 3:56:12 PM.

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Finance

Posted on: March 3, 2023

[ARCHIVED] Tax Amnesty

Recognizing the ongoing financial impact of the COVID-19  pandemic, the City Council unanimously voted at the February Legislative Meeting to endorse a temporary amnesty program for struggling homeowners who have fallen into foreclosure status.  

The Tax Amnesty program adopted on February 21 would waive City interest and penalties due on unpaid taxes, allowing residents to focus on payment of the principal. The City would work with property owners on a payment plan for outstanding balance to be paid in full by the end of December, 2023. 

“This program would give residents an opportunity to get back on their feet, preserve their home and be able to move forward,” said Finance Commissioner Edward Ritter, who recommended the program to Council.  “The City, although waiving interest, would gain significant cash flow, clear up many outstanding balances and not have to go to the in-rem/foreclosure process.”

For more information, contact the Tax Office at (914) 654-2059.

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