New York Laws
Article 11 - Tax on Mortgages
253 - Recording Tax.

(b) An organization organized other than for profit which is operated
on a nonprofit basis no part of the net earnings of which inures to the
benefit of any officer, director or member and which is exempt from
federal income taxation pursuant to subsection (a) of section five
hundred one of the internal revenue code shall be exempt from the
special additional tax imposed by this subdivision.
2. (a) In addition to the taxes imposed by subdivisions one and one-a
of this section, there shall be imposed on each mortgage of real
property situated within the state recorded on or after the first day of
July, nineteen hundred sixty-nine, an additional tax of twenty-five
cents for counties outside of the metropolitan commuter transportation
district, as defined pursuant to section twelve hundred sixty-two of the
public authorities law, and thirty cents for counties within such
metropolitan commuter transportation district for each one hundred
dollars and each remaining major fraction thereof of principal debt or
obligation which is, or under any contingency may be secured at the date
of execution thereof or at any time thereafter by such mortgage, saving
and excepting the first ten thousand dollars of such principal debt or
obligation in any case in which the related mortgage is of real property

principally improved or to be improved by a one or two family residence
or dwelling. All the provisions of this article shall apply with
respect to the additional tax imposed by this subdivision to the same
extent as if it were imposed by the said subdivision one of this
section, except as otherwise expressly provided in this article.
Notwithstanding article eighteen-A of the general municipal law and
titles eleven and fifteen of article eight of the public authorities
law, no mortgage of real property situated within the state in counties
located within the metropolitan commuter transportation district, the
Niagara Frontier transportation district, the Rochester-Genesee
transportation district, the capital district transportation district,
and the central New York regional transportation district executed,
given, made, or transferred or assigned by or to an agency created under
article eighteen-A of the general municipal law, an authority created
under title eleven or fifteen of article eight of the public authorities
law, an agent or agent of such agent of such agency or authority, a
project operator receiving financial assistance from such agency or
authority, a project occupant of such agency or authority, or an owner
of a project receiving financial assistance from such agency or
authority shall be exempt from the additional tax imposed by this
subdivision. For the purposes of this subdivision the term "financial
assistance" shall have the same meaning as defined in section eight
hundred fifty-four of the general municipal law. The imposition of this
additional tax on mortgages recorded in a county outside the city of New
York, other than one of the counties from time to time comprising the
metropolitan commuter transportation district, the Niagara Frontier
transportation district, the Rochester-Genesee transportation district,
the capital district transportation district or the central New York
regional transportation district may be suspended for a specified period
of time or without limitation as to time by a local law, ordinance or
resolution duly adopted by the local legislative body of such county.
(b) Any local law, ordinance or resolution suspending the imposition
of this additional tax as provided in paragraph (a) of this subdivision,
or amending or repealing such local law, ordinance or resolution, shall
take effect only on the first day of the third month succeeding the
month in which such local law, ordinance or resolution is duly adopted.
Such a local law, ordinance or resolution shall not be effective unless
a certified copy thereof is mailed by registered or certified mail to
the state tax commission at its office in Albany at least sixty days
prior to the date the local law, ordinance or resolution shall take
effect. However, the tax commission may waive and reduce such sixty-day
notice requirement to a requirement that such certified copy be mailed
by registered or certified mail within a period of not less than thirty
days prior to such effective date if it deems such action to be
consistent with its duties under this article. A certified copy of any
local law, ordinance or resolution adopted pursuant to this subdivision
shall also be filed with the state comptroller within five days after
the date it is duly adopted.
3. Notwithstanding any other provision of law to the contrary, the
mortgage recording tax shall not be imposed upon any mortgage executed
by a voluntary nonprofit hospital corporation, fire company or voluntary
ambulance service as defined in section one hundred of the general
municipal law, or upon any mortgage executed by or granted to the
dormitory authority.

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