As part of the adoption of the New York State Budget Bill (Chapter 56 of the Laws of 2009 enacted on April 7, 2009), Real Property Law Section 333, subd. 3 was amended to increase the filing fee for the RP-5217 and the NYCRP-5217 Equalization and Assessment Forms.

For qualifying residential or farm property, the fee will increase from $75.00 to $125.00.

One, two or three family dwellings, rural residences, and residential condominium units would be examples of qualifying residential property. Properties bearing an agricultural code on the most recent assessment rolls would be considered “qualifying farm property.

For all other types of property, the filing fee is increased from $165.00 to $250.00.

Where a transaction affecting property located within the City of New York does not require the filing of an Equalization and Assessment form (e.g., a transfer of a cooperative unit), the fee to file the New York City Real Property Transfer Tax Form has been increased from $50.00 to $100.00.

The filing fee increase is applicable statewide, and becomes effective for instruments submitted for recording on or after June 1, 2009.

In order to comply with the new filing fees these offices will begin collecting at the new rate for any documents received on Monday, May 25th.

This will include closings that occur on that date or after,  as well as any courtesy recordings received on that date or after.