NY Tax L § 1439-EE (2021)
2021 New York Laws TAX - Tax Article 31-A-3 - Tax on Real Estate Transfers in the Town of Northeast 1439-EE - Exemptions.

* §  1439-ee.  Exemptions.  1.  The following shall be exempt from the payment of the real estate transfer tax imposed by this article:  (a) The state of New York, or any of its agencies,  instrumentalities, political  subdivisions,  or  public  corporations  (including  a public corporation created pursuant to an agreement  or  compact  with  another state or the Dominion of Canada); and  (b)  The  United  Nations,  the United States of America or any of its agencies or instrumentalities.   2. The tax shall not apply to any of the following conveyances:  (a) Conveyances to the United Nations, the United States  of  America, the  state  of  New York, or any of their instrumentalities, agencies or political subdivisions (or any public corporation,  including  a  public corporation  created pursuant to agreement or compact with another state or the Dominion of Canada);  (b) Conveyances which are or were used  to  secure  a  debt  or  other obligation;  (c)  Conveyances  which,  without  additional  consideration, confirm, correct, modify or supplement a deed previously recorded;  (d) Conveyances of real property without consideration  and  otherwise than in connection with a sale, including deeds conveying realty as bona fide gifts;  (e) Conveyances given in connection with a tax sale;  (f)  Conveyances  to  effectuate  a mere change of identity or form of ownership or  organization  where  there  is  no  change  in  beneficial ownership,  other  than conveyances to a cooperative housing corporation of the real property comprising the cooperative dwelling or dwellings;  (g) Conveyances which consist of a deed of partition;  (h) Conveyances given pursuant to the federal bankruptcy act;  (i) Conveyances of real property which consist of the execution  of  a contract  to  sell  real  property  without the use or occupancy of such property or the granting of an option to purchase real property  without the use or occupancy of such property;  (j)  Conveyances  of  real  property  or a portion or portions of real property  that  are  the  subject  of  one  or  more  of  the  following development restrictions:  (1) agricultural, conservation, scenic, or an open space easement,  (2)  covenants  or  restrictions  prohibiting  development  where  the property or portion of property being conveyed has had  its  development rights permanently removed,  (3)  a  purchase of development rights agreement where the property or portion of property  being  conveyed  has  had  its  development  rights permanently removed,  (4)  a  transfer  of  development rights agreement, where the property being conveyed has had its development rights removed,  (5) real property subject to any  locally  adopted  land  preservation agreement, provided said exemption is included in the local law imposing the tax authorized by this article;  (k)  Conveyances  of  real  property,  where  the  property  is viable agricultural land as defined  in  subdivision  seven  of  section  three hundred  one  of the agriculture and markets law and the entire property to be conveyed  is  to  be  made  subject  to  one  of  the  development restrictions  provided  for in subparagraph two of paragraph (j) of this subdivision provided that said  development  restriction  precludes  the conversion  of the property to a non-agricultural use for at least eight years from the date of transfer, and  said  development  restriction  is evidenced  by an easement, agreement, or other suitable instrument which is to be conveyed to the town simultaneously with the conveyance of  the real property; or  (l)  Conveyances  of  real property for open space, parks, or historic preservation purposes  to  any  not-for-profit  tax  exempt  corporation operated  for  conservation,  environmental,  or  historic  preservation purposes.   3.  An exemption from the tax which is equal to the median sales price of residential real property within the applicable county, as determined by the office of real property services pursuant to section four hundred twenty-five of the real property  tax  law,  shall  be  allowed  on  the consideration  of the conveyance of improved or unimproved real property or an interest therein.   * NB Repealed December 31, 2028