Peconic Bay Region Community Form PDF Details

The Peconic Bay Region Community Preservation Fund is a critical tool in conserving and preserving land for public use and benefit within specific townships, including East Hampton, Riverhead, Shelter Island, Southampton, and Southold. This preservation is funded through a transfer tax, the proceeds of which are earmarked for the acquisition of land, development rights, and other property interests aimed at conservation. Those engaging in property transactions within these areas are required to fill out and submit a detailed form. The form captures essential information about the conveyance, including the grantor and grantee details, property location and description, and the type of property conveyed. It also addresses various conditions and types of conveyances such as fee interests, controlling interests, leasehold assignments, and more. Additionally, the form outlines the computation of the tax due under the Community Preservation Fund, providing allowances for both improved and unimproved properties across the townships, and specifies the criteria for claiming exemptions from the real estate transfer tax. The penalties and interest applicable for late filings or payments are clearly stipulated, ensuring grantors and grantees are well-informed. Completing this form accurately is essential, as it is accompanied by the necessity for both grantor(s) and grantee(s) to certify the veracity of the information provided to the best of their knowledge. This process underlines the commitment of the involved parties and the local government to preserving the unique environmental and scenic character of the Peconic Bay Region for future generations.

QuestionAnswer
Form NamePeconic Bay Region Community Form
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namessuffolk county peconic bay tax form, peconic bay tax form, peconic bay transfer tax, peconic bay tax

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Peconic Bay Region

Community Preservation Fund

Proceeds of this transfer tax are disbursed to the Townships in which the transaction takes place for its acquisition of land, development rights, and other interests in property for conservation purposes.

Please print or type.

Townships:

 

East Hampton

03

Riverhead

06

Shelter Island

07

Southampton

09

Southold

10

Schedule A Information Relating to Conveyance

 

Grantor

Name (individual; last, first, middle initial)

 

Social Security Number

 

 

 

 

 

 

 

 

 

 

Individual

 

 

 

 

 

 

 

 

 

 

Corporation

Mailing address

 

 

Social Security Number

 

 

 

 

 

 

 

 

 

 

Partnership

 

 

 

 

 

 

 

 

 

 

City

State

ZIP code

Federal employer idenl. number

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Grantee

Name (individual; last, first, middle initial)

 

Social Security Number

 

 

Individual

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporation

Mailing address

 

 

Social Security Number

 

 

 

 

 

 

 

 

 

 

Partnership

 

 

 

 

 

 

 

 

 

 

Other

City

State

ZIP code

Federal employer idenl. number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Location and description of property conveyed

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dist

Tax map designation

Section

Block

Lot

Address

Village

Town

Type of property conveyed (check applicable box)

 

 

 

 

 

 

 

 

 

 

 

 

Date of conveyance

 

Dual Towns:

 

Improved

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vacant land

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

month

day

year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Condition of conveyance (check all that apply)

 

 

 

 

 

 

 

 

 

 

a. - Conveyance of fee interest b. - Acquisition of a

f. - Conveyance which consists of a mere

k. - Contract assignment

 

controlling interest (state

 

change of identity or form of ownership or

l. - Option assignment or surrender

 

percentage acquired ______________ %)

 

organization

m. - Leasehold assignment or surrender n. -

 

c. - Transfer of a controlling interest (state

g. - Conveyance for which credit (or tax

Leasehold grant

 

percentage transferred ____________ %)

 

previously paid will be claimed

o. - Conveyance of an easement p. -

 

d. - Conveyance to cooperative housing

h. - Conveyance of cooperative apartment(s) i.

Conveyance for which exemption is

 

corporation

claimed (complete Schedule B. Part II)

 

 

- Syndication

 

 

 

e. - Conveyance pursuant to or in lieu of

j. - Conveyance of air rights or development

q. - Conveyance of property partly within and

 

foreclosure or enforcement of security

 

rights

 

 

partly without the state

 

interest

 

 

 

 

 

r. - Other (describe) ____________________

 

Schedule B - Community Preservation Fund

PART I - Computation of Tax Due

1.Enter amount of consideration for the conveyance (from line 1 TP584 Schedule B)

2.Allowance (see below)

3.Taxable consideration (subtract line 2 from line 1)

4.2% Community Preservation Fund (of line 3) make certified check payable to SUFFOLK COUNTY CLERK

5.Property not subject to CPF Tax (See Schedule C)

1

2

3

4

5

For recording officer's use

Amount received

Date received

Transaction number

Allowance:

 

 

East Hampton

$250,000.00 Improved

$100,000.00 Vacant Land (Unimproved)

Shelter Island

$250,000.00 Improved

$100,000.00 Vacant Land (Unimproved)

Southampton

$250,000.00 Improved

$100,000.00 Vacant Land (Unimproved)

Riverhead

$150,000.00 Improved

$ 75,000.00 Vacant Land (Unimproved)

Southold

$150,000.00 Improved

$ 75,000.00 Vacant Land (Unimproved)

12-0213.. 09/01cg

Schedule

C

-

(continued)

PART II - Explanation of Exemption Claimed in Part I, line 1 (check any boxes that apply)

The conveyance of real property is exempt from the real estate transfer tax for the following reason:

a. Conveyance is 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 Canada)

b. Conveyance is to secure a debt or other obligation

c. Conveyance is without additional consideration to confirm, correct, modify or supplement a prior conveyance

d. Conveyance of real property is without consideration and not in connection with a sale, including conveyances conveying realty as bona fide gifts

e. Conveyance is given in connection with a tax sale

f. Conveyance is mere change of identity or form of ownership or organization where there is no change in beneficial ownership. (This exemption cannot be claimed for a conveyance to a cooperative housing corporation of real property comprising the cooperative dwelling or dwellings.)

g. Conveyance consists of deed of partition

h. Conveyance is given pursuant to the federal bankruptcy act

i. Conveyance consists 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. Conveyance or real property which is subject to restrictions which prohibit the use of the entire property for any purposes

except agriculture, recreation or conservation, pursuant to Section 1449-ee (2) (j) or (k) of Article 31-D of the Tax Law. (See required Town approval, below)

k. Conveyance 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.

l. Other list explanations in space below (Grandfather/Contract)

m. The conveyance is approved for an exemption from the Community Preservation Transfer Tax, under Section 1449-ee of Article 31-D of the Tax law. (See j in Schedule C)

_______________________________________________________________

Town Attorney or other designated official

PENALTIES AND INTEREST

PENALTIES

Interest

Any grantor or grantee failing to file a return or to pay any tax within the time required shall be subject to a penalty of 10% of the amount of tax due plus an interest penalty of 2% of such amount of each month of delay or fraction thereof after the expiration of the first month after such return was required to be filed or the tax became due. However, the interest penalty shall not exceed 25% in the aggregate.

Daily compounded interest will be charged on the amount of the tax due not paid within the time required.

Signature

(both

the

grantor(s)

and

grantee(s)

must

sign).

The undersigned certify that the above return, including any certification, schedule or attachment, is to the best of his/her knowledge, true and complete.

Grantor

Grantee

Grantor

Grantee

12-0213:: 09/01cg

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2. Once your current task is complete, take the next step – fill out all of these fields - a Conveyance of fee interest b, percentage acquired, c Transfer of a controlling, percentage transferred, d Conveyance to cooperative, corporation, e Conveyance pursuant to or in, foreclosure or enforcement of, rights, Schedule B Community Preservation, Conveyance which consists of a, change of identity or form of, g Conveyance for which credit or, h Conveyance of cooperative, and Syndication Conveyance of air with their corresponding information. Make sure to double check that everything has been entered correctly before continuing!

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3. The following step is about a Conveyance is to the United, agencies or political subdivisions, b Conveyance is to secure a debt, c Conveyance is without additional, d Conveyance of real property is, realty as bona fide gifts, e Conveyance is given in, f Conveyance is mere change of, This exemption cannot be claimed, g Conveyance consists of deed of, h Conveyance is given pursuant to, i Conveyance consists of the, and granting of an option to purchase - complete all these fields.

h Conveyance is given pursuant to, a Conveyance is to the United, and g Conveyance consists of deed of of peconic bay community preservation fund

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