Section 1206. Imposition of taxes on deeds in the city of Peekskill

(a)
  Notwithstanding  any  provision  of  law  to  the  contrary,  the  local
  governing  body  of the city of Peekskill, by the adoption and amendment
  of local laws, ordinances or resolutions may impose  in  such  city  and
  provide for the administration and collection of a tax on deeds by which
  real  property  is  conveyed in such city in the manner set forth and as
  authorized in subdivision (b) of this section.
    (b) There is hereby imposed in the city of Peekskill  a  tax  on  each
  deed   by   which  any  real  property  is  conveyed  (measured  by  the
  consideration or value of the interest or property conveyed) at  a  rate
  not to exceed one percent of such consideration or value with respect to
  all  conveyances,  provided  that such city may allow deductions for any
  liens on such interest or property and may also allow an  exemption  not
  in  excess of one hundred thousand dollars on the consideration or value
  of the interest or property conveyed. Provided, further, that such taxes
  shall not apply if the contract for any such conveyance was  made  prior
  to September first, two thousand seven. Such taxes may be imposed on any
  conveyance  or  transfer  of  real  property or interest therein by deed
  where the real property is located in  such  city  regardless  of  where
  transactions,  negotiations,  transfers  of  deeds or other actions with
  regard to the transfer or conveyance take place,  subject  only  to  the
  restrictions contained in section twelve hundred thirty. The payment of,
  and  the  filing of a return relating to, any such taxes may be required
  as a condition precedent to the recording of a deed.