Tuesday, September 11, 2012

Video of Mortgage Recording Tax Case

The Court of Appeals, New York's highest court, has posted a video of the oral arguments in Hudson Valley Federal Credit Union v New York State Department of Taxation and Finance.

As background, Hudson Valley Federal Credit Union sued the state of New York and its tax department seeking a declaration that Hudson Valley FCU and other federal credit unions are exempt from New York's mortgage recording tax.

However, lower courts ruled against Hudson Valley FCU stating that the mortgage recording tax "is not a tax on property, but a tax upon the privilege of recording a mortgage."

Video of Oral Arguments
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