N.Y. Tax Law § 1425: Imposition of tax

§ 1425. Imposition of tax. Notwithstanding any other provisions of law

to the contrary, the county of Erie, acting through its local

legislative body, is hereby authorized and empowered to adopt and amend

local laws imposing in such county a tax on each conveyance of real

property or interest therein when the consideration exceeds five hundred

dollars, at the rate of two dollars and fifty cents for each five

hundred dollars or fractional part thereof; provided, however, that with

respect to (A) a conveyance of a one, two or three-family house and an

individual residential condominium unit, or interests therein; and (B)

conveyances where the consideration is less than five hundred thousand

dollars, the consideration for the interest conveyed shall exclude the

value of any lien or encumbrance remaining thereon at the time of

conveyance. Such local law shall apply to any conveyance occurring on or

after June first, nineteen hundred ninety, but shall not apply to

conveyances made on or after such date pursuant to binding written

contracts entered into prior to such date, provided that the date of

execution of such contract is confirmed by independent evidence such as

the recording of the contract, payment of a deposit or other facts and

circumstances as determined by the treasurer.