§ 1201. Taxes administered by cities of one million or more.\nNotwithstanding any other provisions of law to the contrary, but subject\nto the applicable limitations and exemptions in part II of this article,\nany city in this state having a population of one million or more,\nacting through its local legislative body, is hereby authorized and\nempowered to adopt and amend local laws imposing in any such city any or\nall of the types of taxes set forth in the following subdivisions of\nthis section, such taxes to be administered and collected by the fiscal\nofficers of such city in the manner provided for in subpart A of part\nIII of this article:\n (a) Taxes on the privilege of doing any business, engaging in any\ntrade, calling, occupation or profession; owning, holding or occupying\nany property; possessing or exercising any franchise or franchises; or\non the gross receipts from sales to persons within such city; except\nthat no tax may be imposed pursuant to this subdivision on persons as to\nwhom authority to tax is granted by article two-b of the general city\nlaw. The rate of the taxes authorized in this subdivision shall not be\nin excess of one and seventeen one hundredths times the rate fixed for\nthe corresponding taxes by local law fifty-one of the city of New York\nfor the year nineteen hundred forty-one, and not in excess of two and\nthirty-five one hundredths times the rate fixed for the corresponding\ntax by local law forty-nine of the city of New York for the year\nnineteen hundred forty-one, except that as to persons engaged in the\nbusiness of operating or leasing sleeping and parlor railroad cars or of\noperating railroads other than street surface, rapid transit, subway and\nelevated railroads, the rate shall not be in excess of three and\nfifty-two one hundredths percent of gross income and except that as to\npersons engaged in the business of operating omnibuses with a carrying\ncapacity of more than seven persons, whether or not such persons are\nsubject to the supervision of the state department of public service,\nthe rate shall not be in excess of one and seventeen one hundredths\npercent of gross income or gross operating income, as the case may be.\n Notwithstanding the limitations as to rate provided above, for the\nyears nineteen hundred seventy-three and those following, such city may\nimpose, by local law, a surtax of forty per centum of the percentage of\ntax in effect pursuant to this subdivision in such city for the year\nnineteen hundred seventy-two.\n (b) (i) Taxes on each deed, other instrument or transaction (other\nthan a deed or instrument given solely as security or a transaction the\nsole purpose of which is to secure an obligation or indebtedness) by\nwhich any real property or any economic interest therein is conveyed or\ntransferred, measured by the consideration or value of the interest or\nproperty conveyed or transferred, (1) at a rate not to exceed one-half\nof one percent of such consideration or value with respect to\nconveyances made before July first, nineteen hundred seventy-one, or\nmade in performance of a contract therefor executed before such date,\n(2) at a rate not to exceed one percent of such consideration or value\nwith respect to (A) all conveyances made on or after July first,\nnineteen hundred seventy-one and before February first, nineteen hundred\neighty-two, or made in performance of a contract therefor executed\nduring such period, (B) conveyances or transfers made on or after\nFebruary first, nineteen hundred eighty-two of one, two or three-family\nhouses, individual cooperative apartments and individual residential\ncondominium units, or interests therein, and (C) conveyances or\ntransfers made on or after February first, nineteen hundred eighty-two\n(other than grants, assignments or surrenders of leasehold interests in\nreal property) where the consideration or value is less than five\nhundred thousand dollars, (3) at a rate not to exceed two perc
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