New York Authorizes Chester’s Real Estate Transfer Tax

The New York Governor signed a law authorizing the town of Chester, in Orange County, to establish a community preservation fund and impose a real estate transfer tax of up to three-quarters of one percent on property conveyances, with revenues dedicated exclusively to preserving open spaces, farmland, historic places, and other community character elements. The law clarifies definitions and entities that are exempt from the tax. The law takes effect immediately, with certain tax provisions taking effect 90 days after becoming law, and expires Dec. 31, 2045, when those provisions will be deemed repealed. [S.B. 277, enacted 10/16/25]

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