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Good day, let’s get into the newest information on the intersection of coverage and actual property:
- The Metropolis Council stored rates of interest on delinquent property taxes unchanged for the 2027 fiscal yr, rejecting metropolis suggestions for will increase.
- A brand new state invoice seeks to provide municipalities broader authority to waive charges on delinquent property taxes.
- A proposed Metropolis Council invoice might simplify necessities for e-bike charging stations throughout industrial and residential buildings.
On this version we point out: Council member and finance committee chair Linda Lee, Nassau County Meeting member Judy Griffin, Council member Oswald Feliz and others.
We Heard
- Frozen curiosity: The Metropolis Council voted to maintain rates of interest on delinquent property taxes unchanged for fiscal yr 2027, rejecting the New York Metropolis Banking Fee’s suggestion to lift charges throughout the board. In resolutions sponsored by Council Finance Committee Chair Linda Lee, the Council cited a decline in tax-delinquent properties since 2023 to justify sustaining the established order. The charges, unchanged since fiscal yr 2025, vary from 6 % to 16 % yearly based mostly on a property’s worth. Properties price greater than $450,000 face a 16 percent rate of interest; these valued between $250,000 and $450,000 are charged 9 percent; and properties price $250,000 or much less pay 6 percent. Homeowners enrolled in Division of Finance cost plans will proceed to pay 2.5 percent yearly.
- Tax aid? In the meantime, on the subsequent state legislative session, municipalities might get wider latitude to waive curiosity and penalties on delinquent property taxes beneath a proposal geared toward easing strain on struggling homeowners. The invoice, launched by Nassau County Meeting member Judy Griffin, would enable native governments to grant aid to taxpayers who can present a historical past of on-time funds, monetary hardship or extraordinary circumstances, together with a pure catastrophe, critical sickness or the dying of a direct member of the family. If enacted, the measure would additionally give municipalities discretion to waive charges on a case-by-case foundation — or set up broader guidelines for doing so throughout the board.
- Code tweak: A Metropolis Council invoice launched by Bronx Council member Oswald Feliz would scrap a requirement that e-bike charging stations (indoors or open air) be bodily separated from servicing areas by a fire-resistant barrier, a rule that may complicate set up and might restrict charging setups in buildings. If authorized, the change would ease the buildout of charging infrastructure throughout industrial and residential properties. The measure, nonetheless, retains a collection of security necessities in place, together with enough electrical capability, correct air flow and sufficient retailers so every machine might be charged individually. Energy strips and extension cords would nonetheless be prohibited, whereas battery packs and different detachable storage batteries couldn’t be stacked or charged in enclosed cupboards except these cupboards are particularly approved by the city for that objective.
Have a tip or suggestions? Attain me at caroline.spivack@therealdeal.com.
Invoice Tracker
| Invoice Quantity | Lead Sponsor(s) | Abstract | Committee |
| A11584 | Meeting member Judy Griffin | Authorizes municipalities to cancel curiosity and penalties on delinquent property taxes for homeowners demonstrating monetary hardship or extraordinary circumstances | Referred to Meeting’s Actual Property Taxation Committee |
| Intro. 0961 | Metropolis Council member Oswald Feliz | Streamlines necessities for e-bike charging areas in buildings | Referred to Committee on Hearth and Emergency Administration |
The Agenda
The town’s Division of Finance will maintain a web-based listening to on proposed guidelines to implement the pied-à-terre tax Thursday starting at 11 a.m. More details on how to join here.
The Metropolis Council’s subcommittee on landmarks will maintain a listening to on a number of land use objects on Thursday at 11 a.m. More details here on the agenda and how to join in person or online.
The Catch-Up
The Mamdani administration is focusing on sooner development allowing and procurement reforms for metropolis infrastructure initiatives because it explores new amendments to the New York Metropolis Constitution, reports The Real Deal’s Ben Miller.
New York Metropolis added 38,682 models to its housing inventory final yr — probably the most new flats accomplished in a single yr for town since 1965, reports The Wall Street Journal.
The identical yr proved to be a giant one for evictions. Metropolis information reveals marshals evicted 17,791 households in all of 2025 — the very best complete since 2018, reports Gothamist.
Final yr there have been additionally about 57,000 vacant rent-stabilized flats reported by town, out of about 1,000,000, representing an approximate 5.6 % emptiness fee. In 2016, the citywide emptiness fee was 3.7 %, reports The City Reporter.
The Kicker
“I’m not going to call legislators, however I had Democrats — influential Democratic legislators — inform me that they’re not on board with this,” mentioned Housing Suppliers of New York State Govt Director Wealthy Lanzarone, a landlord advocate, on the fate of the REST Act.
Learn extra
PolicyPro: City quietly drops pied-à-terre tax rules, comptroller bullish on revenue
“Winners and losers”: What if Mamdani finally reforms NYC property taxes?
JOCO’s fireproof cabinets offer solution for e-bike battery fires
