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This entry was published on 2021-08-06
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SECTION 1449-BBBB
Imposition of tax
Tax (TAX) CHAPTER 60, ARTICLE 31-F
* § 1449-bbbb. Imposition of tax. Notwithstanding any other provisions
of law to the contrary, the town of Warwick, acting through its town
board, is hereby authorized and empowered to adopt a local law imposing
in such town a tax on each conveyance of real property or interest
therein where the consideration exceeds five hundred dollars, at the
rate of three-quarters of one percent of the consideration for such
conveyance. Provided, however, any such local law imposing, repealing or
reimposing such tax shall be subject to a mandatory referendum pursuant
to section twenty-three of the municipal home rule law. Notwithstanding
the foregoing, prior to adoption of such local law, the town must
establish a community preservation fund pursuant to section sixty-four-g
of the town law. Revenues from such tax shall be deposited in such fund
and may be used solely for the purposes of such fund. Such local law
shall apply to any conveyance occurring on or after the first day of a
month to be designated by such town board, which is not less than sixty
days after the enactment of such local law, but shall not apply to
conveyances made on or after such date pursuant to binding written
contracts entered into prior to such date, provided that 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 treasurer.

* NB Repealed December 31, 2050