Legislature passes budget on time

For the third straight year, the New York State Legislature has passed an on-time budget. The 2013-14 state fiscal year budget closes a $1.3 billion deficit, while increasing spending by just under two percent to $141.3 billion. Importantly, this year's budget does not contain any proposals to increase the state mortgage recording or transfer taxes, nor does it contain any proposals affecting the fee structure or requirements for licensing real estate professionals.

Click here to learn more.