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.