LOCAL LAW NO. 4 OF 2023
A LOCAL LAW AMENDING ARTICLE VII
SECTION 234-45 OF THE CODE OF THE CITY
OF MOUNT VERNON ENTITLED REAL ESTATE
TAX - ? 234-45 - IMPOSITION OF TAX
WHEREAS, by letter dated November 16, 2023, the Comptroller of the Department of Finance has requested a new local law to amend Article VII, Section 234-45 of the Code of the City of Mount Vernon entitled Real Estate Tax, ? 234-45; and
WHEREAS, the change in the percentage is comparable with our neighboring municipality, the City of Yonkers. In addition, the 1984 amendment shows that the consideration level was previously established at $50,000 according to the adopted law, but never changed in the City Code. Therefore, this will document the correction of an error from the 1984 amendment, while increasing the percentage by half (1/2) percent; NOW, THEREFORE, BE IT, RESOLVED THAT,
The City of Mount Vernon, in City Council convened, does hereby ordain, and enact:
Section 1. Article VII, Section 234-45 of the Code of the City of Mount Vernon entitled Real Estate Tax, ? 234-45 is hereby amended as follows:
? 234-45. Imposition of tax.
[Amended 8-13-1986 by L.L. No. 4-1986, approved 8-26-1986]
A tax is hereby imposed on each deed at the time of delivery by a grantor to a grantee when the consideration for the real property and any improvement thereon, whether or not included in the same deed, exceeds [$100,000] $50,000. The tax shall be at the rate of [1%] 1.5% of the consideration in excess of [$100,000] $50,000. Where any real property is situated partly within and partly without the boundaries of the City of Mount Vernon, the consideration subject to tax shall be such part of the total consideration attributable to that portion of such real property situated within the City of Mount Vernon or to the interest in such portion.
Section 2. This local law shall take effect upon filing in the office of the Clerk of the City o...
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