Authorizes cities and towns to establish community housing funds and impose a real estate transfer tax.

New York S09674 allows cities and towns, excluding those with a population of one million or more, to establish community housing funds and impose a real estate transfer tax. The tax is levied on each conveyance of real property or interest where the consideration exceeds $500. Revenues from this tax are deposited into the community housing fund and can be used for various purposes, including financial assistance for first-time homebuyers, production and maintenance of community housing, and housing counseling services.

Authorizes cities and towns to establish community housing funds and impose a real estate transfer tax.

New York S09674 allows cities and towns, excluding those with a population of one million or more, to establish community housing funds and impose a real estate transfer tax. The tax is levied on each conveyance of real property or interest where the consideration exceeds $500. Revenues from this tax are deposited into the community housing fund and can be used for various purposes, including financial assistance for first-time homebuyers, production and maintenance of community housing, and housing counseling services.