N.Y. Real Property Tax Law 499-GGG – Tax lien and interest
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§ 499-ggg. Tax lien and interest. All taxes, with interest, required to be paid retroactively pursuant to this title shall constitute a tax lien as of the date it is determined such taxes and interest are owed. All interest shall be calculated from the date the taxes would have been due but for the tax abatement granted pursuant to this title at the applicable rate or rates of interest imposed generally for non-payment of real property tax with respect to the eligible building for the period in question.
Terms Used In N.Y. Real Property Tax Law 499-GGG
- Eligible building: shall mean a class one, class two or class four real property, as defined in subdivision one of section eighteen hundred two of this chapter, located within a city having a population of one million or more persons. See N.Y. Real Property Tax Law 499-AAA
- Lien: A claim against real or personal property in satisfaction of a debt.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.