TopApril 2019 Newsflash

Prestige Title

2020 NY Budget Bill - Transfer and Mansion Tax-supplemental - UPDATED

Here is a supplemental note to our Prestige Title Newsflash regarding the 2020 NY Budget Bill as it pertains to Transfer and Mansion Tax.
The proposed tax increases take effect on July 1, 2019.  A transaction that closes on or after July 1, 2019, that would otherwise be subject to the tax rate increase, may be subject to the original tax rates if the contract was entered into on or before April 1, 2019, and the "date of execution of such contract is confirmed by independent evidence, such as the recording of the contract, payment of a deposit or other facts and circumstances as determined by the Commissioner of Taxation and Finance."

Should you have any questions, please contact Anthony Chiellino ( or Keith Eng, Esq. ( 

Prestige Title Agency, Inc. provides Commercial and Residential Title Services Nationwide.  For more information, please contact Anthony Chiellino at (212) 651-1200 or .
55 W. 39th St., 9th Fl. · New York, NY 10018 · (212) 651-1200 · Fax (212) 651-1201
Member of New York State Land Title Association · Member of American Land Title Association