New York Assembly Bill A10052

New York 2025-2026 Regular Session

• Introduced: 1/30/26
• Refer: 1/30/26
• Report Pass: 2/25/26
• Refer: 2/25/26

Caption

Extends the effectiveness of the authority of the town of Red Hook to impose real estate transfer taxes and to deposit revenue from such taxes into a community preservation fund

Summary

This bill extends the sunset date for the Town of Red Hook’s authority to impose a local real estate transfer tax and to deposit the resulting revenue into its community preservation fund. Under current law, the authorization was set to expire on December 31, 2026; the bill changes that expiration date to December 31, 2051, while keeping the rest of the enabling framework in place. The measure does not create a new tax or expand the tax base. Instead, it preserves an existing local revenue tool that Red Hook can use to support community preservation purposes. By extending the authorization for an additional 25 years, the bill allows the town to continue collecting and dedicating transfer-tax revenue under the same statutory structure established in chapter 443 of the laws of 2006.

Impact

The bill amends the prior enabling act for Red Hook’s real estate transfer tax by changing only the effectiveness/sunset provision. Its practical effect is to keep the town’s authority alive through 2051, preventing the automatic repeal of the local tax authorization in 2026. This maintains the town’s ability to levy the transfer tax and direct proceeds into the community preservation fund, affecting property buyers and sellers in the town and preserving a local funding source for preservation-related uses.

Sentiment

The available legislative history suggests generally favorable sentiment toward the bill. It was reported favorably by the Assembly Local Governments Committee on a 13-6 vote and later passed the Senate, indicating meaningful support for extending the town’s taxing authority. The absence of recorded transcript debate suggests the measure may have been relatively straightforward and procedural in nature.

Contention

The main point of contention appears to be whether Red Hook should continue to have this local transfer-tax authority for such a long period, with the committee vote showing some opposition despite overall approval. Likely concerns include the burden on real estate transactions, the appropriateness of extending a local tax mechanism rather than allowing it to sunset, and whether the community preservation fund continues to justify the tax. Supporters appear to favor stability in local funding and preservation planning, while opponents likely question the need for continued taxation or the length of the extension.