NY Tax L § 260 (2021)
2021 New York Laws TAX - Tax Article 11 - Tax on Mortgages 260 - Determination and Apportionment by the State Tax Commission.

§  260.   Determination and apportionment by the state tax commission.   When the real property covered by a mortgage is situated  in  more  than   one  tax district, the state tax commission shall apportion the tax paid   on such mortgage between the respective tax districts upon the basis  of   the relative assessments of such real property as the same appear on the   last  assessment-rolls.    If,  however,  the  whole  or any part of the   property covered by such a  mortgage  is  not  assessed  upon  the  last   assessment-roll or rolls of the tax district or districts in which it is   situated,  or  is  so  assessed,  as  a part of a larger tract, that the   assessed value cannot be determined, or if improvements have  been  made   to  such  an extent as materially to change the value of the property so   assessed, the tax commission may require  the  local  assessors  in  the   respective  tax  districts,  or  the mortgagor, or mortgagee, to furnish   sworn appraisals of the property in each tax  district,  and  upon  such   appraisals  shall  determine the apportionment.  If such mortgage covers   real property  in  two  or  more  counties,  the  tax  commission  shall   determine the proportion of the tax which shall be paid by the recording   officer who has received the same to the recording officers of the other   counties  in  which  are  situated  the  tax districts entitled to share   therein.  When any recording officer shall pay any portion of a  tax  to   the  recording officer of another county, he shall forward with such tax   a description sufficient to identify the mortgage on which the  tax  has   been  paid,  and  the recording officer receiving such tax shall note on   the margin of the record of such mortgage  the  fact  of  such  payment,   attested  by  his signature.   The tax commission shall make an order of   determination and apportionment in respect to  each  such  mortgage  and   file  a certified copy thereof with the recording officer of each county   in which a part of the mortgaged real property is situated.When the real property covered by a  mortgage  is  partly  within  the   state  and  partly  without  the  state  it shall be the duty of the tax   commission to determine what portion of the mortgage or of  advancements   thereon  shall  be taxable under this article.  Such determination shall   be made in the following manner:    First:    Determine  the  respective   values  of  the  property  within  and  without  the  state,  and deduct   therefrom the amount of any prior  existing  mortgage  liens,  excepting   such  liens  as  are  to  be  replaced  by  prior  advancements  and the   advancement under consideration.  Second:  Find the ratio that  the  net   value  of the mortgaged property within the state bears to the net value   of the entire mortgaged property.  Third:  Make the determination of the   portion of the mortgage or of the advancements thereon  which  shall  be   taxable  under  this  article  by  applying  the  ratio so found.   If a   mortgage covering property partly within and partly without the state is   presented for record before such determination has been made, or at  the   time when an advance is made on a corporate trust mortgage or on a prior   advance  mortgage,  there  may  be  presented to the recording officer a   statement in duplicate verified by the mortgagor or an officer  or  duly   authorized  agent  of the mortgagor, in which shall be specified the net   value of the property within the state and the net value of the property   without the state covered by such mortgage.    One  of  such  statements   shall be filed by the recording officer and the other shall be forthwith   transmitted  by  him to the state tax commission.  The tax payable under   this article before the determination by the  tax  commission  shall  be   computed  upon such portion of the principal indebtedness secured by the   mortgage, or of the sum advanced  thereon,  as  the  net  value  of  the   mortgaged property within the state bears to the net value of the entire   mortgaged  property  as set forth in such statement.  The tax commission   shall on receipt of the statement from the recording officer and on  not   less  than  ten  days'  notice  served  personally  or  by mail upon the    mortgagor, the mortgagee and the state comptroller, proceed to make  the   required  determination.    In  determining  the  separate values of the   property within and without the state the tax commission shall  consider   only  the  tangible  property,  real and personal, except that leases of   real property shall be deemed tangible property.   For  the  purpose  of   determining  such  value the tax commission may require the mortgagor or   mortgagee to furnish by affidavit or verified report such information or   data as it may deem necessary, and may require and take the testimony of   the mortgagor, mortgagee or any other person.  A certified copy  of  the   order  of  determination and apportionment shall be delivered personally   or by mail to the mortgagor, the mortgagee and  the  state  comptroller,   and  any  tax  under such determination which has not been paid shall be   paid within ten days after service of such certified copy; if,  however,   the  tax paid at the time of filing the statement hereinbefore specified   with the recording officer is in excess of  the  tax  determined  to  be   payable, the certificate of determination and apportionment shall direct   the recording officer to refund to the person paying such tax the amount   of  such excess; provided that no refund shall be made of any taxes paid   pursuant to a previous determination.The tax commission shall adopt rules to govern the procedure  and  the   manner  of  taking  evidence  in  all  the  matters provided for by this   section and may require verified statements to be  furnished  either  by   boards   of  assessors,  recording  officers  or  other  persons  having   knowledge in relation to such matters.   Failure  on  the  part  of  any   person  or officer to furnish a statement or other data when required so   to do pursuant to the provisions  of  this  section  shall  render  such   person  or  officer  liable  to  a penalty of one hundred dollars, to be   recovered by the attorney-general in an action brought in  the  name  of   the people of the state of New York.In  making  determination and apportionment under this section the tax   commission shall consider each advancement made upon  a  mortgage  after   July  first,  nineteen hundred and six, as a new mortgage.  In all cases   under this section where the provisions  for  distribution  of  the  tax   among  tax  districts are inapplicable or inadequate, the tax commission   shall establish a basis of apportionment  that  will  be  equitable  and   fair.