NY S07322

Increases the maximum allowable tax rate on real property deed conveyances in the City of Mount Vernon from 1 percent to 1.5 percent of the consideration or value of the property conveyed

Maintains existing provisions allowing the city to deduct liens and exempt up to $100,000 of property value from the deed tax

Preserves the city's authority to impose, administer, and collect the tax through local laws, ordinances, or resolutions

Takes effect immediately upon enactment