New York Senate Bill S06216

New York 2025-2026 Regular Session

• Introduced: 3/6/25
• Refer: 3/6/25
• Engrossed: 5/27/25
• Refer: 5/27/25
• Engrossed: 6/13/25
• Enrolled: 8/4/25
• Chaptered: 8/7/25
• Passed: 8/7/25

Caption

Extends provisions allowing the county of Fulton to impose a county recording tax on obligation secured by a mortgage on real property to November 30, 2027.

Summary

S06216 extends the authorization for Fulton County to continue imposing its county mortgage recording tax on mortgages secured by real property. The bill does not create a new tax or change the tax rate; it simply moves the expiration date of the existing authority from November 30, 2025 to November 30, 2027, while keeping the underlying provisions of chapter 489 of the laws of 2004 in effect for that additional period. In practical terms, the measure preserves a local revenue source for Fulton County and maintains the current tax treatment of mortgage recordings in that county. Because the bill is a narrow extension of an existing local taxing authorization, its legal effect is limited to updating the sunset date in state law rather than altering broader mortgage tax policy statewide.

Impact

The bill amends chapter 489 of the laws of 2004, as previously extended in 2023, by changing the repeal date for Fulton County’s mortgage recording tax authority to November 30, 2027. This keeps in place the county’s ability to levy a mortgage recording tax on obligations secured by real property and avoids a lapse in that authority. The affected parties are Fulton County, mortgage lenders, borrowers, and property purchasers in the county who may pay the tax as part of mortgage recording transactions.

Sentiment

The bill appears to have been viewed favorably and as routine by the Legislature. It passed the Senate Investigations and Government Operations Committee unanimously, then cleared the Senate floor by a substantial margin and the Assembly floor with a strong majority. The vote pattern suggests broad support for continuing an existing local revenue measure with little controversy over the extension itself.

Contention

There is little evidence of substantive opposition in the available record, but the only likely point of concern is the continued burden of a county-level mortgage recording tax on real estate transactions in Fulton County. Supporters likely view the extension as necessary to preserve county revenues and avoid disruption, while any critics would focus on the cost to homebuyers, borrowers, and the local housing market. The recorded votes indicate that any such concerns did not generate significant legislative resistance.