N.Y. Comp. Codes R. & Regs. tit. 20 § 654.3

Current through Register Vol. 46, No. 25, June 18, 2024

Section 654.3 - Issuance of refund

Tax Law, §§ 251, 263

(a) Where the commissioner determines that a refund is due and after audit by the State Comptroller, the commissioner shall make an order directing the appropriate recording officer(s) to refund the taxes erroneously paid or the taxes paid upon the recording of a mortgage given in connection with a consumer credit transaction that has been rescinded as set forth in section 654.1(a)(1)(ii) of this Part. Such refund shall include interest, as described in section 654.5 of this Part, where applicable.

(b)

(1) A certified copy of the order directing the appropriate recording officer to refund such taxes and applicable interest shall be sent to the applicant of the refund claim and to others who appear from the mortgage or application for refund to have an interest in the mortgage or the mortgaged premises.

(2) The amount so ordered to be refunded shall be paid by the recording officer(s) to the party entitled to receive it. The recording officer shall charge such amount back to the State, public benefit corporation or tax district, as the case may be, that was credited with the same.

N.Y. Comp. Codes R. & Regs. Tit. 20 § 654.3