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City of Mount Vernon change transfer tax

Effective January 1, 2024 the City of Mt. Vernon has increased their Transfer Tax rate from 1% to 1.5%.

The exemption level has been reset to $50,000.

The increased rate shall be levied on all deeds dated on and after January 1, 2024.

 Click here to see the text of the enabling local law.

Click here to download the fillable form.

As always, if you have any questions about Title Insurance or if there is anything else we can do to assist you, please contact us at (212) 239-8789.

This blog is courtesy of CB Title Agency of NY, LLC and NYSLTA. This article is for informational purposes only and is not intended to provide legal advice, but rather to provide insight into legal developments and issues that may be useful to our clients and friends. In no circumstance is this article intended to be a full treatment of the above subject matter. Reader is advised to obtain additional information as noted.