2023 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.