The Ulster County Clerk administers two property transfer taxes – a Mortgage Recording Tax (MRT) and a Real Estate Transfer Tax (RETT). Ulster County does not charge a local MRT or RETT, but the county collects a fee for administering these taxes. The lion’s share of the revenues from each tax are distributed by the county to the state and local municipalities. If Ulster County adopted both a local Mortgage Recording Tax and a local Real Estate Transfer Tax like other counties in New York, the County could have seen 2019 revenues of between $3.4 and $6.5 million depending on the structure of each tax…
