LOCAL LAW
BY COUNCIL PRESIDENT COLLINS-BELLAMY, MAJORITY LEADER RUBBO, MAJORITY WHIP NORMAN, MINORITY LEADER BREEN, COUNCILMEMBERS, PINEDA-ISAAC, DIAZ AND MERANTE:
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A LOCAL LAW AMENDING SECTION 15-141 OF THE CODE OF THE CITY OF YONKERS, IN RELATION TO EXTENDING THE CITY OF YONKERS MORTGAGE RECORDING TAX TO CONFORM TO THE 2025 AMENDMENTS OF THE NEW YORK STATE TAX LAW.
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BE IT ENACTED, by the City Council of the City of Yonkers,
as follows:
Section 1. Section 15-141 of Article XIII of Chapter 15 of the Code of the City of Yonkers, as amended, is hereby further amended as follows:
Section 15-141. Imposition of tax.
A tax of $0.50 for each $100 and each remaining major fraction thereof of principal debt or obligation which is, or under any contingency may be secured at the date of execution thereof or at any time thereafter by a mortgage on real property situated within the city and recorded on or after September 1, 1993, or prior to September 1, 2025 2027, is hereby imposed on each such mortgage and shall be collected and paid as provided in this article. If the principal debt or obligation which is or by any contingency may be secured by such mortgage is less than $100, a tax of $0.50 is hereby imposed on such mortgage, and shall be collected and paid as provided in this article.
Section 2. This local law shall take effect upon filing with the Secretary of State and in accordance with law.