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Bill > A08114
NY A08114
NY A08114Extends the authorization to impose a county recording tax on obligations secured by a mortgage on real property in Albany County.
summary
Introduced
04/30/2025
04/30/2025
In Committee
06/13/2025
06/13/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 General Assembly
Bill Summary
AN ACT to amend chapter 405 of the laws of 2005 amending the tax law relating to authorizing the county of Albany to impose a county recording tax on obligations secured by a mortgage on real property, in relation to extending the effectiveness thereof
AI Summary
This bill extends the authorization for Albany County to impose a county recording tax on mortgage-related obligations by two additional years, changing the expiration date from December 1, 2025, to December 1, 2027. A county recording tax is a fee charged when certain financial documents related to property mortgages are officially recorded with the county, typically assessed as a percentage of the transaction value. The bill amends a previous law from 2005 that originally granted Albany County the ability to levy this tax, with the current extension maintaining the county's existing taxing authority. The legislation will take effect immediately upon becoming law, ensuring a seamless continuation of the county's ability to collect this specific tax on mortgage-related transactions.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Companion passed 2025-08-07 (on 08/07/2025)
Official Document
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