§ 44-02 Mandatory Payment by Electronic Funds Transfer.
RCNY § 44-02
(a)The real property taxes for any property with an annual tax liability equal to or greater than $300,000 must be paid by electronic funds transfer.
(b)Notwithstanding any other provision of this section, where a taxpayer pays real property taxes for more than one property by a single payment, and the total annual real property tax liability for such properties is equal to or greater than three hundred thousand dollars, the total annual real property tax liability for such properties shall be used to determine whether the taxes for a property must be paid by electronic funds transfer.
(c)Notwithstanding any other provision of this section, where real property taxes are paid for more than one taxpayer by a single bill or paid by a single entity, including but not limited to a mortgage escrow agent as defined in paragraph c of subdivision four of Section 1519 of the Charter, if the total amount paid is equal to or greater than three hundred thousand dollars annually, such amount shall be used to determine whether the taxpayer or entity is required to pay the real property taxes by electronic funds transfer.
(d)For purposes of these rules, "electronic funds transfer" shall mean any transfer of funds, other than a transaction originated by check, draft or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument or computer or magnetic tape so as to order, instruct or authorize a financial institution to debit or credit an account.
