RE: City of Mount Vernon Transfer Tax Change – Update
This memorandum is an update to a previous notice which advised of changes made to the City of Mt. Vernon’s Transfer Tax rate. The changes were due to take effect on January 1, 2024, increasing the Real Property Transfer Tax from 1% to 1.5% and decreasing its exclusion from $100,000 to $50,000.
The City of Mt. Vernon has now advised that these changes are suspended until further notice and that the old tax rate and exclusion should be used until further notice.
If you have any questions feel free to contact our Legal Department at (800) 281-8485 or email@example.com