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S 3626

Extends the authorization for the county of Schoharie to impose a county recording tax on obligation secured by a mortgage on real property

2025 Regular Session Introduced by Peter Oberacker

Bill S 3626 allows Schoharie County to continue imposing a recording tax on mortgages, securing vital revenue for local services and impacting property owners' costs.

SIGNED CHAP.267
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Bill Summary · S 3626

Summary of Bill S 3626

Bill Overview

  • Bill Number: S 3626
  • Title: Extends the authorization for the county of Schoharie to impose a county recording tax on obligations secured by a mortgage on real property.
  • Status: Signed into law as Chapter 267 on August 7, 2025.
  • Introduced: January 29, 2025

Purpose and Intent

The primary purpose of Bill S 3626 is to extend the existing authority of Schoharie County to impose a recording tax on mortgages secured by real property. This tax is a source of revenue for the county and is intended to support local government operations and services.

Key Provisions

  • Extension of Authority: The bill allows Schoharie County to continue imposing a recording tax on mortgage obligations, which was set to expire.
  • Tax Application: The tax applies to obligations secured by mortgages on real property, meaning any loans that are backed by real estate as collateral.
  • Revenue Generation: The revenue generated from this tax will be utilized for various county services and infrastructure improvements.

Affected Parties

  • County of Schoharie: The primary beneficiary of this legislation, as it allows the county to maintain a critical source of revenue.
  • Property Owners and Borrowers: Individuals and entities securing mortgages on real property in Schoharie County will be subject to this recording tax, impacting their overall borrowing costs.

Legislative Process and Timeline

  • Introduced: The bill was introduced on January 29, 2025, and referred to the Committee on Investigations and Government Operations.
  • Assembly and Senate Actions:
    • Passed the Senate on May 27, 2025.
    • Delivered to the Assembly on the same day and subsequently passed on June 13, 2025.
    • A home rule request was made on June 13, 2025, indicating local support for the measure.
  • Governor's Approval: The bill was delivered to the Governor on August 4, 2025, and was signed into law on August 7, 2025.

Related Legislation

  • Companion Bill: A 4135, which is related to the same subject matter and was substituted for S 3626 during the legislative process.
  • Prior Session Bill: S 4585, which may have addressed similar issues in previous legislative sessions.

Conclusion

Bill S 3626 is a significant piece of legislation for Schoharie County, ensuring the continuation of a vital revenue source through the recording tax on mortgages. By extending this authority, the bill supports local governance and infrastructure, impacting both the county and its residents.

Compiled from official sources — confirm details with the bill’s official record.

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