N.Y. Tax Law § 1441 — Imposition of tax

* § 1441. Imposition of tax. Notwithstanding any other provisions of\nlaw to the contrary, the town, acting through its town board, is hereby\nauthorized and empowered to adopt a local law imposing in such town a\ntax on each conveyance of real property or interest therein where the\nconsideration exceeds five hundred dollars, at the rate of two percent\nof the consideration for such conveyance. Provided, however, any such\nlocal law imposing, repealing or reimposing such tax shall be subject to\na mandatory referendum pursuant to section twenty-three of the municipal\nhome rule law. Notwithstanding the foregoing, prior to adoption of such\nlocal law, the town must establish a community preservation fund\npursuant to section sixty-four-f of the town law. Revenues from such tax\nshall be deposited in such fund and may be used solely for the purposes\nof such fund. Such local law shall apply to any conveyance occurring on\nor after the first day of a month to be designated by such town board,\nwhich is not less than sixty days after the enactment of such local law,\nbut shall not apply to conveyances made on or after such date pursuant\nto binding written contracts entered into prior to such date, provided\nthat the date of execution of such contract is confirmed by independent\nevidence such as the recording of the contract, payment of a deposit or\nother facts and circumstances as determined by the treasurer.\n * NB Repealed December 31, 2025\n