N.Y. Tax Law 1439-B – Imposition of tax
* § 1439-b. Imposition of tax. Notwithstanding any other provisions of law to the contrary, the county of Columbia, acting through its local legislative body, is hereby authorized and empowered to adopt and amend local laws imposing in such county a tax on each conveyance of real property or interest therein when the consideration exceeds five hundred dollars, at the rate of one dollar for each five hundred dollars or fractional part thereof, provided, however, that the first one hundred fifty thousand dollars of any single family residence shall be exempt from such tax. Such local law shall apply to any conveyance occurring on or after the first day of a month to be designated by such legislative body, which is not less than sixty days after the enactment of such local laws, but shall not apply to conveyances made on or after such date pursuant to binding written contracts entered into prior to such date, provided that the date of execution of such contract is confirmed by independent evidence such as the recording of the contract, payment of a deposit or other facts and circumstances as determined by the treasurer.
Terms Used In N.Y. Tax Law 1439-B
- Consideration: means the price actually paid or required to be paid for the real property or interest therein, including payment for an option or contract to purchase real property, whether or not expressed in the deed and whether paid or required to be paid by money, property, or any other thing of value. See N.Y. Tax Law 1439-A
- Contract: A legal written agreement that becomes binding when signed.
- Conveyance: means the transfer or transfers of any interest in real property by any method, including but not limited to, sale, exchange, assignment, surrender, mortgage foreclosure, transfer in lieu of foreclosure, option, trust indenture, taking by eminent domain, conveyance upon liquidation or by a receiver, or transfer or acquisition of a controlling interest in any entity with an interest in real property. See N.Y. Tax Law 1439-A
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Treasurer: means the commissioner of finance of the county of Columbia. See N.Y. Tax Law 1439-A
* NB Repealed December 31, 2025
* NB There are 3 § 1439-b's