Section 1439-E. Exemptions

1.  The  following shall be exempt from the
  payment of the real estate transfer tax imposed by this article:
    (a) The state of New York, or any of its agencies,  instrumentalities,
  political  subdivisions,  or  public  corporations  (including  a public
  corporation created pursuant to an agreement  or  compact  with  another
  state or the Dominion of Canada); and
    (b)  The  United  Nations,  the United States of America or any of its
  agencies or instrumentalities.
    2. The tax shall not apply to any of the following conveyances:
    (a) Conveyances to the United Nations, the United States  of  America,
  the  state  of  New York, or any of their instrumentalities, agencies or
  political subdivisions (or any public corporation,  including  a  public
  corporation  created pursuant to agreement or compact with another state
  or the Dominion of Canada);
    (b) Conveyances which are or were used  to  secure  a  debt  or  other
  obligation;
    (c)  Conveyances  which,  without  additional  consideration, confirm,
  correct, modify or supplement a deed previously recorded;
    (d) Conveyances of real property without consideration  and  otherwise
  than in connection with a sale, including deeds conveying realty as bona
  fide gifts;
    (e) Conveyances given in connection with a tax sale;
    (f)  Conveyances  to  effectuate  a mere change of identity or form of
  ownership or  organization  where  there  is  no  change  in  beneficial
  ownership,  other  than conveyances to a cooperative housing corporation
  of the real property comprising the cooperative dwelling or dwellings;
    (g) Conveyances which consist of a deed of partition;
    (h) Conveyances given pursuant to the federal bankruptcy act;
    (i) Conveyances of real property which consist of the execution  of  a
  contract  to  sell  real  property  without the use or occupancy of such
  property or the granting of an option to purchase real property  without
  the use or occupancy of such property;
    (j)  Conveyances  of  real  property  or a portion or portions of real
  property  that  are  the  subject  of  one  or  more  of  the  following
  development restrictions:
    (1) agricultural, conservation, scenic, or an open space easement,
    (2)  covenants  or  restrictions  prohibiting  development  where  the
  property or portion of property being conveyed has had  its  development
  rights permanently removed,
    (3)  a  purchase of development rights agreement where the property or
  portion of property  being  conveyed  has  had  its  development  rights
  permanently removed,
    (4)  a  transfer  of  development rights agreement, where the property
  being conveyed has had its development rights removed,
    (5) real property subject to any  locally  adopted  land  preservation
  agreement, provided said exemption is included in the local law imposing
  the tax authorized by this article;
    (k)  Conveyances  of  real  property,  where  the  property  is viable
  agricultural land as defined  in  subdivision  seven  of  section  three
  hundred  one  of the agriculture and markets law and the entire property
  to be conveyed  is  to  be  made  subject  to  one  of  the  development
  restrictions  provided  for in subparagraph two of paragraph (j) of this
  subdivision provided that said  development  restriction  precludes  the
  conversion  of the property to a non-agricultural use for at least eight
  years from the date of transfer, and  said  development  restriction  is
  evidenced  by an easement, agreement, or other suitable instrument which
  is to be conveyed to the town simultaneously with the conveyance of  the
  real property; or

    (l)  Conveyances  of  real property for open space, parks, or historic
  preservation purposes  to  any  not-for-profit  tax  exempt  corporation
  operated  for  conservation,  environmental,  or  historic  preservation
  purposes.
    3.  An exemption from the tax which is equal to the median sales price
  of residential real property within the applicable county, as determined
  by the office of real property services pursuant to section four hundred
  twenty-five of the real property  tax  law,  shall  be  allowed  on  the
  consideration  of the conveyance of improved or unimproved real property
  or an interest therein.
    * NB Repealed December 31, 2027
    * NB There are 3 § 1439-e's