§ 1206. Imposition of taxes on deeds in the city of Peekskill. (a)
Notwithstanding any provision of law to the contrary, the local
governing body of the city of Peekskill, by the adoption and amendment
of local laws, ordinances or resolutions may impose in such city and
provide for the administration and collection of a tax on deeds by which
real property is conveyed in such city in the manner set forth and as
authorized in subdivision (b) of this section.

(b) There is hereby imposed in the city of Peekskill a tax on each
deed by which any real property is conveyed (measured by the
consideration or value of the interest or property conveyed) at a rate
not to exceed one percent of such consideration or value with respect to
all conveyances, provided that such city may allow deductions for any
liens on such interest or property and may also allow an exemption not
in excess of one hundred thousand dollars on the consideration or value
of the interest or property conveyed. Provided, further, that such taxes
shall not apply if the contract for any such conveyance was made prior
to September first, two thousand seven. Such taxes may be imposed on any
conveyance or transfer of real property or interest therein by deed
where the real property is located in such city regardless of where
transactions, negotiations, transfers of deeds or other actions with
regard to the transfer or conveyance take place, subject only to the
restrictions contained in section twelve hundred thirty. The payment of,
and the filing of a return relating to, any such taxes may be required
as a condition precedent to the recording of a deed.