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 654.3 - Issuance of refund
Universal Citation: 20 NY Comp Codes Rules and Regs ยง 654.3
Current through Register Vol. 46, No. 12, March 20, 2024
Tax Law, §§ 251, 263
(a) Where the commissioner determines that a refund is due and after audit by the State Comptroller, the commissioner shall make an order directing the appropriate recording officer(s) to refund the taxes erroneously paid or the taxes paid upon the recording of a mortgage given in connection with a consumer credit transaction that has been rescinded as set forth in section 654.1(a)(1)(ii) of this Part. Such refund shall include interest, as described in section 654.5 of this Part, where applicable.
(b)
(1) A certified copy of the order directing
the appropriate recording officer to refund such taxes and applicable interest
shall be sent to the applicant of the refund claim and to others who appear
from the mortgage or application for refund to have an interest in the mortgage
or the mortgaged premises.
(2) The
amount so ordered to be refunded shall be paid by the recording officer(s) to
the party entitled to receive it. The recording officer shall charge such
amount back to the State, public benefit corporation or tax district, as the
case may be, that was credited with the same.
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