IDA No Longer Exempt from Additional 1/4% Mortgage Tax
NYS Department of Taxation issued TSB-M-16(1)R imposing a tax of $0.25 per thousand on mortgages made by a County IDA within a Transportation District and $0.30 for counties within the Metropolitan Commuter Transportation District after July 1, 2017 pursuant to Tax Law 253(2).
The identity of the counties within a transportation district is listed on the attached memo. Click here to view.
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