NY Tax L § 1564 (2021)
2021 New York Laws TAX - Tax Article 33-B - Tax on Real Estate Tranfers in Towns 1564 - Exemptions.

§  1564. Exemptions. 1. The following shall be exempt from the payment of the tax:  (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,  where the entire parcel of real property to be conveyed is the subject of one or more of  the  following development restrictions:  (1) agricultural, conservation, scenic, or open space easement,  (2)  covenants  or  restrictions  prohibiting  development  where  the property being conveyed  has  had  its  development  rights  permanently removed,  (3)  a  purchase  of  development  rights agreement where the 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 permanently removed, or  (5)  real  property  subject  to any locally adopted land preservation agreement; provided that the municipal legislative body exempts from the tax those conveyances subject to such  development  restriction  in  the local law adopted pursuant to 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 paragraph (j) of this subdivision; provided that  such  development  restriction  precludes  the  conversion  of the property to a non-agricultural use for at least  eight  years  from  the date  of transfer, and that said development restriction is evidenced by an easement, agreement, or other suitable  instrument  which  is  to  be conveyed  to  the municipality 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, parks 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  town  or  city,  as determined by the commissioner, shall be allowed on the consideration of the  conveyance  of  improved or unimproved real property or an interest therein.