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The First-Time Homebuyer Exemption to the Peconic Bay Real Estate Transfer Tax

NYS_Dept_Tax_SealSince 1998, New York’s Tax Law § 1449-aa et seq. has allowed the five East End towns to impose upon buyers of certain real estate in those towns a 2% real estate transfer tax (the “Peconic Bay real estate transfer tax”) in order to fund the Peconic Bay region community preservation fund established pursuant to Town Law § 64-e. Continue reading The First-Time Homebuyer Exemption to the Peconic Bay Real Estate Transfer Tax