Increase in Filing Fees in Budget Bill
A Budget Bill under consideration in the New York State Legislature (Part T, S6809/A9809) would increase the filing fees for the State Board of Real Property Services Real Property Transfer Report, known generally as the Equalization and Assessment Forms, to a maximum of $575. The charge in each instance will depend on the "reported sales price", whether the property being transferred is located within or outside the City of New York, and whether or not the property being transferred is "qualifying residential property" or "qualifying farm property".
The current, maximum charge for the transfer of property which is not "qualifying residential property" or "qualifying farm property" is $165.
If the Budget Bill is enacted in the present form as to these charges, the increases are to take effect on April 1.
It appears that these fees will also apply to the filing of the NYC RPT where an Equalization and Assessment Form is not required to be filed.