New York Codes, Rules and Regulations
Title 20 - DEPARTMENT OF TAXATION AND FINANCE
Chapter IV - Sales And Use And Other Miscellaneous Taxes
Subchapter D - Mortgage Recording Taxes
Part 640 - Scope
Section 640.2 - Mortgage recording taxes

Universal Citation: 20 NY Comp Codes Rules and Regs ยง 640.2

Current through Register Vol. 46, No. 12, March 20, 2024

Tax Law, §§ 253, 253-a, 253-d, 253-e

(a) There are six mortgage recording taxes that may be imposed and they shall be known, for purposes of this Subchapter as follows:

(1) the basic tax (imposed by section 253[1] of the Tax Law);

(2) the additional tax (imposed by section 253[2] of the Tax Law);

(3) the special additional tax (imposed by section 253[1-a] of the Tax Law)

(4) the City of New York tax authorized to be imposed by section 253-a of the Tax Law and imposed by section 11-2601 of the New York City Administrative Code);

(5) the City of Yonkers tax (authorized to be imposed by section 253-d of the Tax Law and imposed by section 92-123 of the Code of the City of Yonkers); and

(6) the Broome County tax (authorized to be imposed by section 253-e of the Tax Law and imposed by Local Law INTRO. No. 9, adopted July 21, 1994)

(b) The recording of every mortgage, unless exempt from taxation, is subject to the basic tax and the special additional tax. (See Part 644 of this Title for further information on tax exempt mortgages.) In addition, the recording of a mortgage is subject to the additional tax unless the imposition of such tax was suspended by local law, ordinance or resolution, the City of New York tax if the real property subject to the mortgage is located, in whole or in part, in the City of New York, the City of Yonkers tax if the real property subject to the mortgage is located, in whole or in part, in the City of Yonkers and the Broome County tax if the real property subject to the mortgage is located, in whole or in part, in Broome County.

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