2006 New York Code - Payment And Payment Over Of Taxes.

 
    § 11-2602 Payment and payment over of taxes. The taxes imposed by this
  chapter  shall  be  payable  on  the  recording of each mortgage of real
  property subject to taxes thereunder. Such taxes shall be  paid  to  the
  recording  officer  of the county in which the real property or any part
  thereof is situated, except where real property is situated  within  and
  without  the  city,  the  recording  officer  of the county in which the
  mortgage is first  recorded  shall  collect  the  tax  imposed  by  this
  chapter,  as  required  by  subdivision  three  of  section  two hundred
  fifty-three-a of the tax law. It shall be the  duty  of  such  recording
  officer  to  indorse  upon each mortgage a receipt for the amount of the
  tax so paid. Any mortgage so endorsed may  thereupon  or  thereafter  be
  recorded  by any recording officer and the receipt for such tax indorsed
  upon each mortgage shall be  recorded  therewith.  The  record  of  such
  receipt  shall be conclusive proof that the amount of tax stated therein
  has been paid upon such mortgage. Upon the first day of each  month  the
  city  register  and  the  recording officer of Richmond county shall pay
  over to the commissioner of finance  of  the  city  for  credit  to  the
  general fund of such city, the balance of the moneys received during the
  preceding  month  upon  account  of  taxes  paid to him or her as herein
  prescribed, after deducting the necessary expenses of his or her  office
  as  provided  in  section  two  hundred sixty-two of the tax law, except
  taxes paid upon mortgages which are  first  to  be  apportioned  by  the
  commissioner  of  taxation  and  finance, which taxes and money shall be
  paid over by him or her as provided by the  determination  of  the  said
  commissioner  of  taxation  and  finance.  Notwithstanding the foregoing
  provision, in each instance where the tax imposed  pursuant  to  section
  11-2601 of this chapter is one dollar and twenty-five cents for each one
  hundred  dollars  and  each  remaining  major  fraction  thereof of such
  principal debt or obligation, fifty percent of the total amount of  such
  tax, including fifty percent of any interest or penalties thereon, shall
  be set aside in a special account by the commissioner of finance, and in
  each  instance  where  the  tax  imposed pursuant to that section is one
  dollar and seventy-five cents for each  one  hundred  dollars  and  each
  remaining  major  fraction thereof of such principal debt or obligation,
  thirty-five and seven-tenths percent of the total amount  of  such  tax,
  including  thirty-five  and  seven-tenths  percent  of  any  interest or
  penalties thereon, shall also be set  aside  in  such  special  account.
  Moneys in such account shall be used for payment by such commissioner to
  the  state  comptroller  for deposit in the urban mass transit operating
  assistance account of the mass transportation operating assistance  fund
  of  any  amount  of  insufficiency  certified  by  the state comptroller
  pursuant to the provisions of subdivision six of section  eighty-eight-a
  of  the  state finance law, and on the fifteenth day of each month, such
  commissioner shall transmit all funds in such account at the end of  the
  preceding  month,  except  the  amount  required  for the payment of any
  amount of insufficiency certified by  the  state  comptroller  and  such
  amount  as  he or she deems necessary for refunds and such other amounts
  necessary to finance the New York city transportation disabled committee
  and the New York city  paratransit  system  as  established  by  section
  fifteen-b  of  the  transportation  law,  provided,  however,  that such
  amounts shall not exceed six percent of the total funds in  the  account
  but  in  no  event be less than two hundred twenty-five thousand dollars
  beginning April first, nineteen hundred  eighty-six,  and  further  that
  beginning  November  fifteenth,  nineteen hundred eighty-four and during
  the entire period prior to operation of such system, the total  of  such
  amounts shall not exceed three hundred seventy-five thousand dollars for
  the administrative expenses of such committee and fifty thousand dollars
  for  the  expenses  of  the agency designated pursuant to paragraph b of


  subdivision five of such section, and other amounts necessary to finance
  the operating needs of the private bus companies franchised by the  city
  of  New  York  and  eligible to receive state operating assistance under
  section  eighteen-b  of  the transportation law, provided, however, that
  such amounts shall not exceed four percent of the  total  funds  in  the
  account,  to the New York city transit authority for mass transit within
  the city.