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Updated almost 13 years ago,
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.