Bill > S07525

This bill extends the authorization for Albany County to impose a county recording tax on mortgages and similar real property obligations by modifying a previous law from 2005. Specifically, the bill changes the expiration date of the county's tax authority from December 1, 2025 to December 1, 2027, effectively giving Albany County two more years to continue levying this specific recording tax. The bill takes effect immediately upon becoming law, which means the county can continue to collect this tax through the end of 2027. A recording tax is typically a fee charged by a local government when certain legal documents, in this case mortgage documents, are officially recorded with the county clerk's office, and this bill ensures Albany County's existing authority to collect such taxes remains in place for an additional two years.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S7525