§ 1402-b. Supplemental tax in cities having a population of one
million or more. (a) In addition to the taxes imposed by sections
fourteen hundred two and fourteen hundred two-a of this article, a tax
is hereby imposed on each conveyance of residential real property or
interest therein within any city in this state having a population of
one million or more when the consideration for the conveyance is two
million dollars or more. For purposes of this section, residential real
property shall include any premises that is or may be used in whole or
in part as a personal residence, and shall include a one, two, or
three-family house, an individual condominium unit, or a cooperative
apartment unit. Such tax shall be paid at the same time and in the same
manner as the taxes imposed by sections fourteen hundred two and
fourteen hundred two-a of this article.

The rate of such tax shall be:

(1) one-quarter of one percent of the consideration or part thereof
attributable to the residential real property when such consideration
for the entire conveyance is at least two million dollars but less than
three million dollars;

(2) one-half of one percent of the consideration or part thereof
attributable to the residential real property when such consideration
for the entire conveyance is at least three million dollars but less
than five million dollars;

(3) one and one-quarter percent of the consideration or part thereof
attributable to the residential real property when such consideration
for the entire conveyance is at least five million dollars but less than
ten million dollars;

(4) two and one-quarter percent of the consideration or part thereof
attributable to the residential real property when such consideration
for the entire conveyance is at least ten million dollars but less than
fifteen million dollars;

(5) two and one-half percent of the consideration or part thereof
attributable to the residential real property when such consideration
for the entire conveyance is at least fifteen million dollars but less
than twenty million dollars;

(6) two and three-quarters percent of the consideration or part
thereof attributable to the residential real property when such
consideration for the entire conveyance is at least twenty million
dollars but less than twenty-five million dollars; and

(7) two and nine-tenths percent of the consideration or part thereof
attributable to the residential real property when such consideration
for the entire conveyance is at least twenty-five million dollars.

(b) Notwithstanding the provisions of subdivision (a) of section
fourteen hundred four of this article, the tax imposed by this section
shall be paid by the grantee. If the grantee has failed to pay the tax
imposed by this article at the time required by section fourteen hundred
ten of this article or if the grantee is exempt from such tax, the
grantor shall have the duty to pay the tax. Where the grantor has the
duty to pay the tax because the grantee has failed to pay, such tax
shall be the joint and several liability of the grantor and the grantee.

(c) Except as otherwise provided in this section, all the provisions
of this article relating to or applicable to the administration,
collection, determination and distribution of the tax imposed by section
fourteen hundred two of this article shall apply to the tax imposed
under the authority of this section with such modifications as may be
necessary to adapt such language to the tax so authorized. Such
provisions shall apply with the same force and effect as if those
provisions had been set forth in this section except to the extent that
any provision is either inconsistent with a provision of this section or
not relevant to the tax authorized by this section.