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NY S03355
Bill
Status
6/17/2016
Primary Sponsor
Elizabeth Little
Click for details
AI Summary
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Authorizes Washington County to adopt local laws imposing a mortgage recording tax of 25 cents per $100 of principal debt (or $0.25 for debts under $100) on mortgages recorded in the county
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Tax applies to mortgages on real property situated within Washington County and recorded on or after the tax's effective date
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Tax revenues, after deducting office expenses, shall be deposited into Washington County's general fund for expenditure on community college support under Education Law Article 126
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Tax administration and collection follows the same procedures as existing state mortgage recording taxes under Tax Law sections 253 and 255, with modifications as needed
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Any local law imposing, repealing, or suspending this tax must take effect on the first day of a calendar month and require written notice to the state Commissioner at least 30 days prior
Legislative Description
Authorizes the county of Washington to impose an additional 25 cents per $100 of debt, mortgage recording tax; revenue therefrom shall be used for community college purposes.
Last Action
referred to ways and means
6/17/2016