Narrative of Resolution:
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Authorize Sullivan County to increase the Mortgage Recording Tax from 25 cents per $100 to Fifty Cents per $100
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INTRODUCED BY MANAGEMENT AND BUDGET COMMITTEE TO AUTHORIZE SULLIVAN COUNTY TO INCREASE THE MORTGAGE RECORDING TAX FROM TWENTY-FIVE CENTS PER $100 TO FIFTY CENTS PER $100
WHEREAS, the County of Sullivan is facing increased costs without the additional revenues to cover these costs including but not limited to an increase in costs to retain and recruit qualified employees; and
WHEREAS, Section 253-j of the Tax Law authorizes a tax of Twenty-five ($.25) Cents per One Hundred ($100.00) Dollars, which is distributed in conformance with the statutory authority contained in New York State Tax Law; and
WHEREAS, it is necessary to request the New York State Legislature to adopt Home Rule Legislation to amend Tax Law Section 253-j to authorize an increase in the mortgage recording tax for Sullivan County from twenty-five cents per $100 to fifty cents per $100 and to distribute the additional tax authorized by Section 253-j of the Tax Law to the Sullivan County Treasurer for deposit into Sullivan County’s general fund,
NOW, THEREFORE, BE IT RESOLVED, that the Sullivan County Legislature hereby requests the New York State Legislature to amend Section 253-j of the Tax Law to authorize the increase of mortgage recording tax from twenty-five cents per $100 to fifty cents per $100 and to authorize the Comptroller to distribute the Sullivan County share of the recording tax to the Sullivan County Treasurer for deposit into the County’s general fund, as ...
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