Bill > A05479

This bill extends the authority for Otsego County to impose an additional mortgage recording tax by modifying a previous law from 2024. Specifically, the bill changes the expiration date of the county's taxing authority from December 31, 2025 to December 31, 2027, effectively giving the county two more years to collect this additional tax. A mortgage recording tax is a fee charged when a mortgage is recorded with local government, which helps generate revenue for the county. The bill allows this tax to continue for an additional two years, providing the county with sustained financial flexibility. The legislation takes effect immediately upon passage, and the new expiration date of December 31, 2027, means the county can continue to levy this additional tax until that date, after which the provisions will be automatically repealed.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A5479