OPINION: A real estate tax moratorium must accompany a potential rent freeze in NY

Martin Pollak is a partner at Pollak & Slepian, LLP. Photo courtesy of Pollak

By Martin Pollak

I note once again that State Sen. Michael Gianaris is promoting a request to the governor regarding the suspension and/or forgiveness of rent to residential and commercial tenants during this horrific time that we are all encountering.

While I am sympathetic to such a request, there needs to be a balanced approach. Small landlords in Queens cannot pay their highly burdensome real estate taxes to the City of New York in the absence of receiving rent payments, yet, I see no plea by the Senator to suspend and/or forgive the burdensome real estate taxes during this pandemic. 

Knowing well how the City of New York functions, I would opine that come July 1, 2020, any non-payment of real estate taxes to the City will be met by daily penalties and interest.

Thus, I would think that the Senator needs to re-think his request to include relief to the small landlords of Queens and indeed, the State of New York, to include a moratorium and indeed, a forgiveness, of real estate taxes during the same period that forgiveness of rent is suggested.

Martin Pollak is a partner at the law firm Pollak & Slepian, LLP in Bayside.