Bill > S07912

This bill extends the existing authorization for Cortland County to impose an additional mortgage recording tax until December 1, 2027. Specifically, the legislation amends a previous law from 2007 that originally granted Cortland County the ability to levy this extra tax, by changing the expiration date from December 1, 2025 to December 1, 2027. A mortgage recording tax is a fee charged when a mortgage is recorded with local government authorities, typically calculated as a percentage of the mortgage amount. This extension means that Cortland County can continue to collect this additional tax for two more years beyond the previous expiration date, which can provide an important source of local revenue. The bill takes effect immediately upon becoming law, and the new expiration date of December 1, 2027, will allow the county to maintain this tax collection authority for an additional two-year period.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S7912