1449-MMMMMM – Apportionment.
§ 1449-mmmmmm. Apportionment. The local law adopted by the legislative body of the county of Madison shall provide for a method of apportionment for determining the amount of tax due whenever the real property or interest therein is situated within and without the county of Madison.
1449-BBBBBB – Imposition of Tax.
§ 1449-bbbbbb. Imposition of tax. Notwithstanding any other provisions of law to the contrary, the county of Madison, 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 […]
1449-CCCCCC – Payment of Tax.
§ 1449-cccccc. Payment of tax. 1. The real estate transfer tax imposed pursuant to this article shall be paid to the treasurer or the recording officer acting as the agent of the treasurer. Such tax shall be paid at the same time as the real estate transfer tax imposed by article thirty-one of this chapter […]
1449-DDDDDD – Liability for Tax.
§ 1449-dddddd. Liability for tax. 1. The real estate transfer tax shall be paid by the grantor. If the grantor has failed to pay the tax imposed pursuant to this article or if the grantor is exempt from such tax, the grantee shall have the duty to pay the tax. Where the grantee has the […]
1449-PPPPP – Foreclosure Proceedings.
§ 1449-ppppp. Foreclosure proceedings. Where the conveyance consists of a transfer of property made as a result of an order of the court in a foreclosure proceeding ordering the sale of such property, the referee or sheriff effectuating such transfer shall not be liable for any interest or penalties that are authorized pursuant to this […]
1449-EEEEEE – Exemptions.
§ 1449-eeeeee. Exemptions. 1. The following shall be exempt from payment of the real estate transfer tax: (a) The state of New York, or any of its agencies, instrumentalities, political subdivisions, or public corporations (including a public corporation created pursuant to agreement or compact with another state or the Dominion of Canada). (b) The United […]
1449-FFFFFF – Credit.
§ 1449-ffffff. Credit. A grantor shall be allowed a credit against the tax due on a conveyance of real property to the extent tax was paid by such grantor on a prior creation of a leasehold of all or a portion of the same real property or on the granting of an option or contract […]
1449-GGGGGG – Cooperative Housing Corporation Transfers.
§ 1449-gggggg. Cooperative housing corporation transfers. 1. Notwithstanding the definition of “controlling interest” contained in subdivision two of section fourteen hundred forty-nine-aaaaaa of this article or anything to the contrary contained in subdivision five of section fourteen hundred forty-nine-aaaaaa of this article, the tax imposed pursuant to this article shall apply to (a) the original […]
1449-HHHHHH – Designation of Agents.
§ 1449-hhhhhh. Designation of agents. The treasurer is authorized to designate the recording officer to act as its agent for purposes of collecting the tax authorized by this article. The treasurer shall provide for the manner in which such person may be designated as its agent subject to such terms and conditions as it shall […]
1449-IIIIII – Liability of Recording Officer.
§ 1449-iiiiii. Liability of recording officer. A recording officer shall not be liable for any inaccuracy in the amount of tax imposed pursuant to this article that he or she shall collect so long as he or she shall compute and collect such tax on the amount of consideration or the value of the interest […]