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AffordabilityAdvocate for a State Mortgage Recording Tax Exemption
Calls for a state exemption from the mortgage recording tax for certain first-time homebuyers.
Date Promised
February 3, 2025
Owner Agency
Mayor's Office
Requires State Action
YesLast updated: January 2, 2026
Overview
• The Mamdani administration would advocate for a mortgage recording tax exemption for low- and middle-income first-time homebuyers.
• The mortgage recording tax currently ranges from 50 cents to $1 per $100 of mortgage financing.
• Implementing the exemption would require changes to state law governing the mortgage recording tax.