Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by

Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated about 13 years ago on .
Most recent reply
presented by

mortgage tax
I am looking at a Mortgage document in NYC's ACRIS system and noticed that NYS taxes the mortgage amount. This is what it states:
Taxes
County (basic): $xxxxx
City (additional): $xxxxx
Spec (additional): $xxxxx
TASF: $xxxxx
MTA: $xxxxx
NYCTA: $xxxxx
Additional MRT: $xxxxx
Total
What is the logic in taxing this one time transaction? In other Mortgage documents, I see that if there is no mortgage taken out, there is none of the taxes above.