Authorizes the town of Clarkstown to establish community preservation funds and to impose a real estate transfer tax with revenues therefrom to be deposited in the community preservation fund; provides for the repeal of certain provisions upon expiration thereof.

Summary

If enacted, this bill would authorize the town of Clarkstown to establish a community preservation fund and impose a real estate transfer tax of up to 1% on residential and commercial property sales, with revenues dedicated to open space, historic preservation, and recreational projects. The tax would apply to transactions within Clarkstown, requiring title companies, real estate brokers, and lenders involved in closings to collect and remit the tax. The bill includes a sunset provision after five years.