- September 09, 1994
- New York State Counsel, Managers, Underwriters and Agents
- Mortgage Recording Tax Chart
The following summarizes the current status of mortgage recording tax rates in New York:
Counties Imposing Basic and Special Additional Tax Only (Total $.75/$100)
Counties Imposing Basic, Additional and Special Additional Tax (Total $1/$100)
Westchester (in Westchester County, the mortgage recording Tax rate for the City of Yonkers is $1.50/$100 due to a local mortgage tax) Authority for this local mortgage tax expires 9/1/95.
Wyoming Counties in New York City (Bronx, Kings, New York, Queens and Richmond):
All mortgages securing less than $500,000 $2/$100
Mortgages $500,000 or more securing a 1,2 or 3 family dwelling, individual condo unit or co-op apartment $2.125/$100
All other mortgages $500,000 or more $2.75/$100
Broome County imposes the Basic, Special Additional and a local mortgage tax, totalling $1/$100
Note: The rates on this chart do not take into account any reductions in the tax due to premises being improved by a one- or two-family dwelling, or the mortgagee being a natural person.
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.
- Bulletins Replaced:
- Related Bulletins:
- Underwriting Manual:
- 4.36 Documentary Transfer Tax
- Exceptions Manual: