Legislation

* § 1450-b. Imposition of tax. Notwithstanding any other provisions of
law to the contrary, the town of Copake, 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 not
to exceed a maximum of two percent of the consideration for such
conveyance, subject to the exemptions set forth in section fourteen
hundred fifty-e of this article; any such local law shall fix the rate
of such tax. 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-l 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 Effective February 19, 2026

* NB Repealed December 31, 2045