Bulletin: NY000025

Date:
February 04, 1991
To:
All Underwriting Companies
RE:
Supplemental Real Estate Charge - New York City

Dear Associates:

The New York City Department of Finance has advised us that a supplement charge on real estate is presently awaiting Mayor Dinkins' signature. The charge is based on the assessed value from July 1, 1990 through June 30, 1991.

The rate is as follows:

Tax ClassPercent of 1990/91 Assessed Valuation

1.080%
2.074%
3.121%
4.080%

If you have any questions, do not hesitate to call.

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
19.04 Taxes And Assessments
Exceptions Manual:
NY Taxes, Real Property
Forms:
None