N.Y. Real Property Tax Law 980 – Tax statements and receipts to show nature and amount of local assistance by state
§ 980. Tax statements and receipts to show nature and amount of local assistance by state. 1. Notwithstanding any general, special or local law, every statement and receipt issued by any public officer or employee for taxes levied upon real property by or for a municipal corporation shall set forth in the manner prescribed by the comptroller the amount of local assistance which it is estimated such municipal corporation will receive from the state within the fiscal year for which such taxes are levied, as such local assistance is defined in § 2 of the state finance law.
Terms Used In N.Y. Real Property Tax Law 980
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
2. It shall be the duty of the chief fiscal officer of each municipal corporation to certify to the collecting officer, the amount of such estimated local assistance. The cost of furnishing the information described in this section shall be deemed a part of the cost of such statement or receipt.
3. Failure to state the amount of local assistance as provided in this § of the taxes or the penalties imposed by law in respect thereto.
4. The provisions of this section shall not apply to statements of, or receipts for, omitted taxes, returned taxes or to taxes levied for prior fiscal years.