Finance Committee Advances Tax Measures
At a glance
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The committee approved four laws concerning land banks, tax-lien sales, unresolved tax-lien reporting, and transferring tax liens to a land bank. Three measures passed 14–2, while the unresolved-tax-lien reporting law passed 15–1; one member was absent.
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What this means
These approvals advance changes to how New York City handles tax liens, which are claims on property for unpaid taxes. The committee also filed the Mayor’s veto messages for the related measures and approved a resolution concerning a proposed tax exemption agreement for Penn South properties. The minutes do not describe the financial value or resident eligibility details of that exemption.
Key decisions
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- Approved Int. 0570-2024-B, concerning creation of a land bank, by a 14–2 vote; one member was absent.
- Filed the Mayor’s veto message concerning Int. 0570-2024-B.
- Approved Int. 1407-2025-A, concerning the sale of tax liens, by a 14–2 vote; one member was absent.
- Filed the Mayor’s veto message concerning Int. 1407-2025-A.
- Approved Int. 1419-2025-A, concerning reporting on unresolved tax liens and a temporary task force, by a 15–1 vote; one member was absent.
- Filed the Mayor’s veto message concerning Int. 1419-2025-A.
- Approved Int. 1420-2025-A, concerning transferring tax liens to a land bank, by a 14–2 vote; one member was absent.
- Filed the Mayor’s veto message concerning Int. 1420-2025-A.
- Approved Res. 0034-2026 concerning a proposed tax exemption agreement for Penn South properties by a 16–0 vote; one member was absent.
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