February 5, 2026

The City of Mount Vernon implemented new real property transfer tax requirements that, regardless of the contract date, apply to conveyances with a deed date on or after February 1, 2026. The official memo released by the City of Mount Vernon, N.Y’s Office of the Comptroller (the “Memo”) reflects amendments enacted through Assembly Bill A7348 (“A7348”). A7348 increased the City of Mount Vernon transfer tax rate from 1.0% to 1.5% and the Memo reduced the exemption threshold from $100,000 to $50,000. Additionally, the Memo further states that the tax applies to real property located within Mount Vernon and that payment of the tax, together with submission of a completed transfer tax return, is a condition precedent to recording a deed with the Westchester County Clerk.

The Memo also: (1) describes the applicable tax rate, exemptions, and allowable deductions, (2) sets forth administrative requirements for compliance  (including how consideration is determined and when the filing obligation arises) and, (3) states that deeds presented for recording without satisfaction of the new transfer tax requirements will not be accepted.

CLICK HERE for the full Memo.