N.Y. Real Prop. Tax Law § 954

Current through 2024 NY Law Chapter 553
Section 954 - Mailing or delivery of bills to mortgage investing institutions
1. A mortgagor who has entered into a real property tax escrow account may designate, on a form prescribed or approved by the commissioner, a mortgage investing institution, and its successors, agents or assigns to receive tax bills. Each such form shall be held by the mortgage investing institution, or any successor to which the account may be transferred, until the real property tax escrow account is terminated, at which time such designation shall be null and void. A mortgage investing institution in possession of such a form shall make it available for inspection by the mortgagor or collecting officer upon request. For any mortgage note executed prior to the first day of June, nineteen hundred ninety, the mortgage investing institution shall, upon the request of the collecting officer, provide any document that evidences its authorization to receive tax bills or obligation to pay taxes.
2. Notwithstanding the provisions of section nine hundred twenty-two, thirteen hundred twenty-two, thirteen hundred twenty-four or fourteen hundred thirty of this chapter, upon agreement between a collecting officer and a mortgage investing institution, the mortgage investing institution or its agent shall, no later than thirty days prior to the last date established by law for the annexation of the warrant to the assessment roll, present to the collecting officer a list in any mutually agreeable format of the real property tax escrow accounts with respect to which the mortgage investing institution or its agent has been authorized by the mortgagor to receive tax bills. If the collecting officer and mortgage investing institution agree, a list of additions and deletions to the last such list so delivered may be presented instead.
3. Upon receipt of such a list, the collecting officer shall take the necessary actions to provide that the appropriate bills for the upcoming levy will be mailed or delivered to the mortgage investing institution or its agent. Such bills may be transmitted in any mutually agreeable format, and need not include any information which the mortgage investing institution or its agent deems extraneous for its purposes. The collecting officer may, in addition thereto or in lieu thereof, cause the appropriate tax billing addresses on the tax roll and the data file, as such term is defined in section fifteen hundred eighty-one of this chapter, to be changed to conform to such list.
4. Where a collecting officer receives such a list later than thirty days prior to the last date prescribed by law for the annexation of the warrant to the assessment roll, the collecting officer may accept the same as if it were submitted in a timely manner.

N.Y. Real Prop. Tax. Law § 954