Extends the authorization of the county of Cattaraugus to impose an additional mortgage recording tax until December 1, 2027.
Summary
S06740 is a narrow local authorization bill that extends the period during which Cattaraugus County may impose an additional mortgage recording tax. The bill amends a prior 2009 law, as previously extended in 2023, by changing the repeal date from December 1, 2025 to December 1, 2027. It does not create a new tax; rather, it continues an existing county-level taxing authority for two more years.
The measure affects the Tax Law framework governing mortgage recording taxes in New York by preserving Cattaraugus County’s ability to levy the additional tax on recorded mortgages within the county. Its practical impact is on borrowers, lenders, and local government finances in Cattaraugus County, since the county may continue to collect revenue from mortgage recordings until the new expiration date. The bill is temporary and local in scope, with no statewide policy change beyond the extension of this county-specific authorization.
Impact
The bill amends chapter 98 of the Laws of 2009, as amended, solely to extend the sunset date for Cattaraugus County’s authority to impose an additional mortgage recording tax from December 1, 2025 to December 1, 2027. This preserves the county’s existing revenue source and maintains the current statutory authorization under the Tax Law for two additional years. The bill does not alter the tax rate, expand the class of taxpayers, or change mortgage recording procedures statewide; it simply prolongs a local taxing power.
Sentiment
The available voting history suggests broad support for the bill. It passed the Senate Investigations and Government Operations Committee unanimously, then cleared the Senate floor by a substantial margin and later passed the Assembly with a comfortable majority. The lack of committee transcript material limits insight into debate, but the vote totals indicate the measure was generally viewed as routine and noncontroversial, likely because it is a local extension rather than a substantive tax increase.
Contention
There is little evidence of major contention in the available record. Any concerns would likely center on the policy of continuing a county-level mortgage recording tax, which can affect homebuyers, refinancers, and lenders by increasing transaction costs. However, the strong committee and floor votes indicate that such concerns did not generate significant opposition in the Legislature. The bill appears to have been treated as a standard local authorization extension for county revenue purposes.
Extends the effectiveness of certain provisions authorizing the county of Madison to impose an additional mortgage recording tax until December 1, 2027.
Extends the effectiveness of certain provisions authorizing the county of Madison to impose an additional mortgage recording tax until December 1, 2027.