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Property Sales and the Community Preservation Fund (CPF) Transfer Tax

Are you selling property, and live in Warwick, Orange County, NY, or Red Hook, Dutchess County, NY? If so, the sale of the property may result in an additional transfer tax paid to the Town’s CPF. Similar to the transfer tax paid as a Seller to New York State, reflected on the TP-584 Form, the CPF Transfer Tax is also paid by the Seller. There are several exemptions to paying this tax.

CPF’s were created to regulate multiple aspects of real estate, including subdivisions, zoning, and acquisition of land for conservation and protection. Between Red Hook and Warwick, the CPF’s have protected over several thousand acres of land.

Our office has a Real Estate Department with knowledgeable and skilled attorneys familiar with the real estate matters you will encounter in the Orange, Dutchess, Ulster, Rockland, Westchester, Sullivan, and Putnam Counties. If you have any questions or need assistance with a real estate matter, please reach out to our office to speak with an attorney.