The Suffolk County Clerk recently updated the Peconic Bay Region Community Preservation Fund Tax Form (“Tax Form”) to show the Community Preservation Fund tax on Part 1, line 4 and the Community Housing Fund tax on Part 1, line 5. Additionally, “Total Tax Due” was added as line 7. The […]

  The Property Condition Disclosure Act (New York Real Property Law §460-467) was amended to eliminate the option of a $500 credit in lieu of providing the Property Condition Disclose Statement (“Disclosure”). Contracts of sale for residential real property entered into March 20, 2024 or after are no longer eligible […]

  The Towns of Shelter Island, East Hampton, Southampton and Southold have enacted the following changes to the Peconic Bay Community Preservation Fund (“Peconic Bay Tax”), effective April l , 2023: The tax rate will increase from 2% to 2.5% The allowances are increased to $400,000.00 (Improved) and $100,000 (Unimproved) […]