New YorkA 113492025-2026 Regular SessionHouseWALLET

Authorizes the town of Clarkstown to establish community preservation funds and to impose a real estate transfer tax; repealer

Sponsored By: Patrick J. Carroll (Democratic)

Signed by Governor

LOCAL GOVERNMENTSCODESWAYS AND MEANSRULES

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Bill Overview

Analyzed Economic Effects

8 provisions identified: 4 benefits, 1 costs, 3 mixed.

Credit for earlier lease or option

If you already paid transfer tax on creating a leasehold or on an option or contract to buy the same property, you get a credit. The credit equals the prior tax times the share of that earlier consideration that is still unpaid.

Clarkstown transfer tax on property sales

The law lets Clarkstown impose a real estate transfer tax up to 0.75% of the sale price. The buyer pays it; if the buyer does not pay or is exempt, the seller is liable. For homes, the taxable amount is reduced by the county’s median home sale price. The tax can start only after the town sets up the preservation fund and voters approve the local law. It begins on the first day of a month set by the town at least 60 days after enactment. Sales under binding contracts signed before the start date are exempt if you have independent proof.

Privacy, refunds, and appeals rights

Your transfer-tax return details are confidential. You can seek a refund of tax paid in error within two years. If you dispute a final bill or a refund denial, you can file in court within four months, with a deposit or bond that covers tax, interest, penalties, and costs. The treasurer keeps collections in a trust fund, may invest them, must hold back money for refunds, and sends monthly receipts to the town.

Town fund to protect open space

The Town Board can set up a Community Preservation Fund and keep all town transfer-tax money in it. The town must adopt a project plan, update it at least every five years, and make farmland the top priority. The fund can buy land or rights for open space, farms, wetlands, forests, rivers, historic places, and passive public access, and it can repay related debt. The town must hold a public hearing before each purchase and may spend no more than 10% on stewardship and management. Lands are managed to protect nature and allow only passive public use; active farm land does not have to allow public access. Property bought with fund money cannot be sold or repurposed without State legislative approval. An unpaid board of 5 or 7 residents, with conservation experts and at least one active farmer, reviews purchases, and the town must post board vacancies online and in the paper.

Pay the town tax at closing

You must file the town’s transfer-tax return and pay the tax when you pay the state transfer tax. The recorder will not record your deed until the return is filed and the tax is paid. The treasurer can name the county recording officer to collect the tax, and the town can charge interest and penalties like state rules. If a property crosses the town line, the tax is split by an apportionment method. The law presumes transfers are taxable and treats non-cash payments as fair market value unless you prove otherwise. Officials who rely on your figures, and referees or sheriffs in court-ordered foreclosures, are not liable for penalties. Most provisions are in force now; one section starts in 90 days and ends on December 31, 2046.

Co-op apartment transfer tax rules

The town tax applies to sales of cooperative shares tied to proprietary leases, both initial grants and resales. For an individual unit, you exclude liens on the stock from the taxable price. A limited credit is allowed when a prior transfer was only a change in identity or form of ownership; it cannot make tax go below zero and does not apply to tax paid more than 24 months before the first transfer. Cooperative corporations must file information returns twice a year (due July 15 and January 15) with details the treasurer requires.

Town may run development rights program

The town may study and set up a transfer of development rights program. The preservation fund may create and run a central bank for these rights. If the program ends, the bank’s money goes back to the fund.

Many property transfers are tax-exempt

Some transfers do not owe the town tax. Examples include gifts, transfers to the U.S., New York State, or the U.N., transfers that only secure a debt, confirmatory deeds, some bankruptcy transfers, and transfers to qualifying nonprofits for open space, parks, or historic preservation. Transfers with certain conservation or agricultural easements can also be exempt. Some local preservation-agreement exemptions apply only if added to the town’s local law.

Sponsors & Cosponsors

Sponsor

Patrick J. Carroll
Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 144 • No: 57

Senate vote • 6/3/2026

FLOOR Vote

Yes: 50 • No: 11

House vote • 6/3/2026

Assembly floor vote

Yes: 94 • No: 46

Actions Timeline

SIGNED CHAP.191
7/31/2026House
DELIVERED TO GOVERNOR
7/31/2026House
RETURNED TO ASSEMBLY
6/3/2026Senate
PASSED SENATE
6/3/2026Senate
3RD READING CAL.1679
6/3/2026Senate
SUBSTITUTED FOR S10276A
6/3/2026Senate
REFERRED TO RULES
6/3/2026Senate
DELIVERED TO SENATE
6/3/2026House
PASSED ASSEMBLY
6/3/2026House
ORDERED TO THIRD READING RULES CAL.430
6/3/2026House
RULES REPORT CAL.430
6/3/2026House
REPORTED
6/3/2026House
REPORTED REFERRED TO RULES
6/3/2026House
REPORTED REFERRED TO WAYS AND MEANS
5/20/2026House
REPORTED REFERRED TO CODES
5/18/2026House
REFERRED TO LOCAL GOVERNMENTS
5/13/2026House

Bill Text

Original
5/13/2026
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