Copake, New York, can establish community preservation funds and impose a real estate transfer tax.

The bill authorizes the town of Copake, New York, to establish community preservation funds and impose a real estate transfer tax on conveyances of real property. Revenues from the tax will be deposited into the community preservation fund. The fund can be used for preserving community character, acquiring interests in real property, establishing a transfer of development rights program, and providing consideration for development rights. The bill also outlines exemptions from the tax, procedures for refunds, and the deposit and disposition of revenue.

Copake, New York, can establish community preservation funds and impose a real estate transfer tax.

The bill authorizes the town of Copake, New York, to establish community preservation funds and impose a real estate transfer tax on conveyances of real property. Revenues from the tax will be deposited into the community preservation fund. The fund can be used for preserving community character, acquiring interests in real property, establishing a transfer of development rights program, and providing consideration for development rights. The bill also outlines exemptions from the tax, procedures for refunds, and the deposit and disposition of revenue.