Form Mt-15 - Mortgage Recording Tax Return
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4MT-15
New York State Department of Taxation and Finance
Mortgage Recording Tax Return
(8/14)
Schedule B
General information
Line 4 – If the mortgage is for real property principally improved
Use Form MT-15 to compute the mortgage recording tax due when
or to be improved by a one- or two-family residence or
the mortgaged real property is located in more than one locality, and
dwelling, subtract $10,000 from the amount on line 1, and enter the
the localities where the property is located impose tax at different
balance on line 4.
rates. Use this form in the following instances:
Line 6 – If any portion of the mortgaged property is located in
• The mortgaged property is located in more than one county,
the MCTD, list each county and enter the assessed value of the
and one or more but not all of the counties are located in the
mortgaged property located in that county. Include any mortgaged
Metropolitan Commuter Transportation District (MCTD). The
property that is located in the counties of New York, Bronx, Kings,
MCTD includes the counties of New York, Bronx, Kings, Queens,
Queens, Richmond, Dutchess, Nassau, Orange, Putnam, Rockland,
Richmond, Dutchess, Nassau, Orange, Putnam, Rockland,
Suffolk, and Westchester. Total the assessed values and enter on
Suffolk, and Westchester.
line 6.
• The mortgaged property is located in more than one county
Line 8 – If any portion of the mortgaged property is located in a
and the additional tax applies in one or more but not all of the
county outside the MCTD that imposes the additional tax, list each
counties.
county and enter the assessed value of the mortgaged property
• The mortgaged property is located in more than one locality,
located in that county. See Table 2 on page 4 for a list of counties
and a local mortgage recording tax applies in one or more of the
imposing the additional tax. Also include any mortgaged property that
localities. See Schedule C, Local mortgage recording taxes, on
is located in the counties of Albany, Cattaraugus, Chautauqua, Essex,
page 3 for a list of the counties and cities imposing a local tax.
Genesee, Rensselaer, Schenectady, Steuben, Warren, Wayne, and
• The mortgaged property is located partially in and partially outside
Wyoming. Total the assessed values and enter on line 8.
of Yonkers, but entirely in Westchester County.
Line 9 – If any portion of the mortgaged property is located in a
county that does not impose the additional tax, list each county
Form MT-15 provides for an apportionment of the tax based on the
and enter the assessed value of the mortgaged property located in
relative assessed value of the real property encumbered by the
mortgage. The apportioned tax must be paid to the recording officer
that county. See Table 3 on page 4 for a list of counties that do not
of the county where the mortgage was first presented for recording.
impose the additional tax. Also include any mortgaged property that
is located in the counties of Broome, Columbia, Cortland, Greene,
Both the Tax Department and the recording officer where the
Hamilton, Herkimer, Lewis, Schoharie, Sullivan, and Yates. Total the
mortgage was first recorded and the tax paid will audit Form MT-15.
assessed values and enter on line 9.
If there is an underpayment of the tax, the Tax Department
will instruct the recording officer who collected the tax to notify
Schedule C
the parties to the mortgage of the underpayment. If there is an
Lines 16 through 20 – Enter in decimal form the New York City tax
overpayment, the Tax Department will notify the taxpayer.
rate for the type of mortgage being recorded from the New York City
column located in Table 4 on page 4. The decimal equivalents of the
Alternative to Form MT-15
rates are $1.00 = .01, $1.125 = .01125, and $1.75 = .0175.
In lieu of filing Form MT-15, you may compute the mortgage
Column A – If the mortgaged property is located in a locality that
recording tax as if the real property is located entirely in the locality
imposes a separate tax, compute the local tax to be apportioned by
in which the greatest amount of tax is imposed. This amount of
multiplying the Amount of mortgage on line 1 by the Tax rate for the
tax will be paid to the recording officer of the county where the
applicable locality. Enter the result in column A.
mortgage is first presented for recording. Also, you should present
Form MT-15.1, Mortgage Recording Tax Claim for Refund, to the
Column B – Enter on the appropriate line the assessed value of
recording officer to claim a refund.
the mortgaged property that is located in each county or city that
imposes a separate tax on mortgages.
The recording officer will confirm the relative assessed value of the
property located in each locality and submit Form MT-15.1 to the Tax
Note: The assessed value of the mortgaged property that is located
Department. The Tax Department will determine the proper total tax
in Yonkers must also be included in the assessed value of the
due and the amount of tax to be apportioned to each county. If there
mortgaged property that is located in Westchester County.
is an overpayment, the Tax Department will instruct the appropriate
recording officer to refund the amount of the overpayment to the
Example: A mortgage covers property located in White Plains
and Yonkers. The assessed value of the property located in White
taxpayer or to a duly authorized representative.
Plains is $200,000. The assessed value of the property in Yonkers
is $300,000. The assessed value entered in column B for line 41,
General mortgage recording tax information
Westchester County, is $500,000. The assessed value entered in
For additional information on the mortgage recording tax, see
column B for line 42, Yonkers, is $300,000.
TSB-M-96(2)R, General Questions and Answers on the Mortgage
Recording Taxes. You may download a copy from our Web site
Column C – Compute the apportionment factor for each line by
(at ), or you may call (518) 457-5431 to receive a
dividing the amount in column B, Assessed value, by line 10, Total
copy by mail.
assessed value. Carry apportionment factor to at least six decimal
places.
Specific instructions
Column D – Compute the local tax apportioned for each line by
multiplying column A, Local tax to be apportioned, by column C,
Schedule A
Apportionment factor.
Line 1 – Enter the amount of the mortgage, rounding to the nearest
hundred dollars. If the value to be rounded is $50 or less, round
down. If greater, round up.
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