Take Judicial Notice: New Paltz Transfer Tax

Take Judicial Notice: New Paltz Transfer Tax

Please be advised effective immediately the Town of New Paltz has imposed a 1.5% transfer tax on all conveyances of real property within the Town of New Paltz or Village of New Paltz occurring on or after February 1, 2021.  This tax will not apply to transfers which have a binding written contract executed prior to February 1, 2021.

The tax will be paid by the buyer at the time of closing.  If the buyer has failed to pay the tax or is otherwise exempt, the tax will be passed onto the seller.

There is currently a $245,000 exclusion which is based on the median sales price of residential property within the Town of New Paltz.  This exclusion will be updated annually on the Ulster County Clerk’s website, typically in April.

The check should be made payable to the Ulster County Clerk and is to be submitted with a “Town/Village of New Paltz Transfer Tax Form” which must be signed by both buyer and seller.  There is a $5 filing fee for this form, which should be included as part of the deed recording fee.

Here is a direct link to the fillable New Paltz Transfer Tax form.

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