Bulletin: NY000174

Date:
October 15, 1999
To:
New York State Counsel, Managers and Agents
RE:
City of Yonkers Mortgage Recording Tax Extended Again

Dear Associates:

The NYS Department of Taxation and Finance Technical Services Bureau has issued a Bulletin (TSB-M-93(3.3)-R) dated September 10, 1999, indicating that the City of Yonkers has extended the Yonkers Mortgage Recording Tax to apply to mortgages recorded prior to August 31, 2001. The tax rate is unchanged, at $0.50 per $100.00 of principal (or major fraction thereof). The combined rate for mortgage recording tax for Yonkers property is $1.50 per $100.00.

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

References

Bulletins Replaced:
None
Related Bulletins:
NY000102 City of Yonkers Mortgage Recording Tax Revived!
Underwriting Manual:
12.28 Mortgages
 
19.04 Taxes And Assessments
Exceptions Manual:
None
Forms:
None