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 654 - Refunds
Section 654.1 - Procedures
Universal Citation: 20 NY Comp Codes Rules and Regs ยง 654.1
Current through Register Vol. 46, No. 12, March 20, 2024
Tax Law, §§ 263, 257-a
(a)
(1) A
mortgagor or mortgagee may claim a refund of any of the mortgage recording
taxes paid by them where:
(i) taxes were
erroneously paid; or
(ii) a
statutory right of rescission, as defined in section
641.11
of this Title, is exercised.
(2) A refund can be claimed by filing an
application for refund with the appropriate documentation attached to such
refund claim as described in section
654.2
of this Part. Such application for refund must be filed within the times set
forth below:
(i) where a refund is claimed
for taxes erroneously paid, within two years of the date the erroneous payment
was received by the recording officer; or
(ii) where a refund is claimed on account of
the mortgagor's exercise of the statutory right of rescission, the later of the
following:
(a) two years from the time of the
payment of the taxes; or
(b) one
year from the date the mortgage was discharged.
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