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Legal Research Library   >   Brookhaven To Ask Residents For Community Preservation Tax ...

Brookhaven To Ask Residents
For Community Preservation Tax
By Johnny D. Hall, Esq

The State Legislature enacted Town Law, Article 4, §64-f – Town of Brookhaven Community Preservation Fund in 2003. §64-f gives the Town the authority to create a community preservation fund by after approval by mandatory referendum. The Town is putting the preservation fund on the November 07' ballot. The enacted law will imposed a 2% transfer tax on conveyances and will be paid by purchasers. Qualified first time purchasers are exempt as are improved properties where the consideration is less than $250,000 and unimproved properties where the consideration is less than $150,000.

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