N.Y. Tax Law § 1205: Imposition of taxes on deeds in the city of Mount Vernon

§ 1205. Imposition of taxes on deeds in the city of Mount Vernon. (a)

Notwithstanding any provision of law to the contrary, the local

governing body of the city of Mount Vernon, by the adoption and

amendment of local laws, ordinances or resolutions may impose in such

city and provide for the administration and collection of a tax on deeds

by which real property is conveyed in such city in the manner set forth

and as authorized in subdivision (b) of this section.

(b) There is hereby imposed in the city of Mount Vernon a tax on each

deed by which any real property is conveyed (measured by the

consideration or value of the interest or property conveyed) at a rate

not to exceed one and one-half percent of such consideration or value

with respect to all conveyances, provided that such city may allow

deductions for any liens on such interest or property and may also allow

an exemption not in excess of one hundred thousand dollars on the

consideration or value of the interest or property conveyed. Provided,

further, that such taxes shall not apply if the contract for any such

conveyance was made prior to September first, nineteen hundred

eighty-four. Such taxes may be imposed on any conveyance or transfer of

real property or interest therein by deed where the real property is

located in such city regardless of where transactions, negotiations,

transfers of deeds or other actions with regard to the transfer or

conveyance take place, subject only to the restrictions contained in

section twelve hundred thirty. The payment of, and the filing of a

return relating to, any such taxes may be required as a condition

precedent to the recording of a deed.