Bulletin: NY000316

Date:
August 01, 2007
To:
All New York State Office Counsel, Managers and Agents
RE:
Red Hook Transfer Tax

An additional new transfer tax for property in Red Hook, Dutchess, becomes effective August 1, 2007. Please refer to our bulletin no. NY000312, which can be found in the STIC Agent Resource Center at www.stewartnewyork.com.

Click here for a copy of the form to be used when paying the tax. 

The instructions for filling out the return are:

  • Enter $330,000.00, as the "median residential sales price for Dutchess County", on Schedule B, Part I, line 2.
  • Attach required document(s) if "box (m)" on Schedule B, Part II is checked.
  • Include check for filing fee in the amount of $5, plus the amount of Red Hook Transfer Tax, if any, made payable to "Dutchess County Clerk".
  • Mail or bring completed Return, signed by both Grantor and Grantee, together with check to: 
    • Dutchess County Clerk's Office, 22 Market Street, Poughkeepsie, NY 12601

There is no rounding. The tax is 2% of the taxable amount.

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:
NY000312 Transfer Tax - Red Hook, NY
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None