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SECTION 1564
Exemptions
Tax (TAX) CHAPTER 60, ARTICLE 33-B
§ 1564. Exemptions. 1. The following shall be exempt from the payment
of the tax:

(a) The state of New York, or any of its agencies, instrumentalities,
political subdivisions, or public corporations (including a public
corporation created pursuant to an agreement or compact with another
state or the Dominion of Canada); and

(b) The United Nations, the United States of America or any of its
agencies or instrumentalities.

2. The tax shall not apply to any of the following conveyances:

(a) Conveyances to the United Nations, the United States of America,
the state of New York, or any of their instrumentalities, agencies or
political subdivisions or any public corporation (including a public
corporation created pursuant to agreement or compact with another state
or the Dominion of Canada);

(b) Conveyances which are or were used to secure a debt or other
obligation;

(c) Conveyances which, without additional consideration, confirm,
correct, modify or supplement a deed previously recorded;

(d) Conveyances of real property without consideration and otherwise
than in connection with a sale, including deeds conveying realty as bona
fide gifts;

(e) Conveyances given in connection with a tax sale;

(f) Conveyances to effectuate a mere change of identity or form of
ownership or organization where there is no change in beneficial
ownership, other than conveyances to a cooperative housing corporation
of the real property comprising the cooperative dwelling or dwellings;

(g) Conveyances which consist of a deed of partition;

(h) Conveyances given pursuant to the federal bankruptcy act;

(i) Conveyances of real property which consist of the execution of a
contract to sell real property without the use or occupancy of such
property or the granting of an option to purchase real property without
the use or occupancy of such property;

(j) Conveyances of real property, where the entire parcel of real
property to be conveyed is the subject of one or more of the following
development restrictions:

(1) agricultural, conservation, scenic, or open space easement,

(2) covenants or restrictions prohibiting development where the
property being conveyed has had its development rights permanently
removed,

(3) a purchase of development rights agreement where the property
being conveyed has had its development rights permanently removed,

(4) a transfer of development rights agreement, where the property
being conveyed has had its development rights permanently removed, or

(5) real property subject to any locally adopted land preservation
agreement; provided that the municipal legislative body exempts from the
tax those conveyances subject to such development restriction in the
local law adopted pursuant to this article;

(k) Conveyances of real property, where the property is viable
agricultural land as defined in subdivision seven of section three
hundred one of the agriculture and markets law, and the entire property
to be conveyed is to be made subject to one of the development
restrictions provided for in paragraph (j) of this subdivision; provided
that such development restriction precludes the conversion of the
property to a non-agricultural use for at least eight years from the
date of transfer, and that said development restriction is evidenced by
an easement, agreement, or other suitable instrument which is to be
conveyed to the municipality simultaneously with the conveyance of the
real property; or

(l) Conveyances of real property for open space, parks, or historic
preservation purposes to any not-for-profit tax exempt corporation
operated for conservation, environmental, parks or historic preservation
purposes.

3. An exemption from the tax which is equal to the median sales price
of residential real property within the applicable town or city, as
determined by the commissioner, shall be allowed on the consideration of
the conveyance of improved or unimproved real property or an interest
therein.