state_legiscan_drain · NY
Extends the authority for the town of Brookhaven to impose a real estate transfer tax with revenues therefrom to be deposited into a community preservation fund until 2045.
October 29, 2025
Summary
If enacted, this bill would extend the town of Brookhaven's authority to impose a real estate transfer tax for community preservation until 2045, increasing costs for property buyers and sellers in the town. Lenders, servicers, and other mortgage professionals involved in Brookhaven transactions would need to handle the collection and remittance of this tax. The bill does not alter mortgage origination or servicing rules beyond this localized tax.
AI-generated summary · Jun 8, 2026. Verify with your compliance counsel before acting.
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Source: https://www.nysenate.gov/legislation/bills/2025/S8555
Common questions
- What does "Extends the authority for the town of Brookhaven to impose a real estate transfer tax with revenues therefrom to be deposited into a community preservation fund until 2045." cover?
- If enacted, this bill would extend the town of Brookhaven's authority to impose a real estate transfer tax for community preservation until 2045,…
- When was it published?
- It was published on October 29, 2025.