BILL NUMBER: S3495
SPONSOR: O'MARA
 
TITLE OF BILL:
An act to amend chapter 365 of the laws of 2005, amending the tax law
relating to the mortgage recording tax in the county of Steuben, in
relation to extending the provisions of such chapter
 
PURPOSE:
To authorize the Steuben County Legislature to adopt and amend local
laws imposing a twenty-five cent per each one hundred dollars mortgage
recording tax on obligations secured by a mortgage on real property.
 
SUMMARY OF PROVISIONS:
This bill amends chapter 366 of the laws of 2005 of the tax law to
authorize Steuben County to collect a mortgage tax for mortgages on real
property situated in Steuben County ending December 1, 2027.
 
JUSTIFICATION:
By continuing this additional tax revenue it will continue to lessen the
burden on the real property tax levy in the provision of necessary
government services by Steuben County.
 
LEGISLATIVE HISTORY:
New bill.
 
EFFECTIVE DATE:
This act shall take effect immediately except that section two of this
act shall take effect on the thirtieth day after it shall have become
law, and shall expire and be deemed repealed on December 1, 2027.