NYC Hotels Seek Relief From Penalty for Late Property-Tax Bills
- Revenue-starved hotels seek relief from deficit-ridden city
- Hotels owe millions in taxes, 18% interest on late payments
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Struggling New York City hotels want Mayor Bill de Blasio to forgive the 18% interest they must pay when they are late on their property-tax bills.
A trade group that represents brands such as Marriott, Hilton and Sheraton as well as smaller boutique hotels is asking the city to forgive or reduce interest charges, much as it has done with other commercial properties. They say the added payments burden an industry pummeled by the pandemic, and if the city wants hotels alive when tourists return, it should offer relief.