state_legiscan_drain · NY
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.
May 13, 2026
Summary
If enacted, this bill would authorize the town of Clarkstown to create a community preservation fund funded by a new real estate transfer tax on property transfers within the town. Buyers and sellers would pay the tax at closing, and lenders and brokers involved in transactions would need to account for the additional cost. The tax would terminate after a specified period unless renewed, providing temporary revenue for open space and preservation projects.
AI-generated summary · Aug 2, 2026. Verify with your compliance counsel before acting.
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Source: https://www.nysenate.gov/legislation/bills/2025/A11349
Common questions
- What does "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." cover?
- If enacted, this bill would authorize the town of Clarkstown to create a community preservation fund funded by a new real estate transfer tax on property…
- When was it published?
- It was published on May 13, 2026.