N.Y. Tax Law § 1438-b: Imposition of tax

* § 1438-b. Imposition of tax. Notwithstanding any other provisions of

law to the contrary, the town of Red Hook, acting through its town

board, is hereby authorized and empowered to adopt a local law imposing

in such town a tax on each conveyance of real property or interest

therein not to exceed a maximum of two percent of the consideration for

such conveyance, subject to the exemptions set forth in section fourteen

hundred thirty-eight-e of this article; any such local law shall fix the

rate of such tax. Provided, however, any such local law imposing,

repealing or reimposing such tax shall be subject to a mandatory

referendum pursuant to section twenty-three of the municipal home rule

law. Notwithstanding the foregoing, prior to adoption of such local law,

the town must establish a community preservation fund pursuant to

section sixty-four-h of the town law. Revenues from such tax shall be

deposited in such fund and may be used solely for the purposes of such

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

the first day of a month to be designated by such town board, which is

not less than sixty days after the enactment of such local law, 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.

* NB Repealed December 31, 2026