New York transfer tax
New York State charges a real estate transfer tax of $2 per $500 (0.4%), paid by the seller. Buyers of residences priced at $1 million or more also pay the 1% "mansion tax" on the whole price. New York City, Yonkers and some other localities add their own transfer taxes.
NYC: city RPTT 1% (residential ≤$500,000) or 1.425% (>$500,000); state additional base tax of $1.25/$500 (0.25%) on residential sales of $3M+ (total state 0.65%); supplemental mansion tax 0.25%–2.9% on top of the 1% for residential sales of $2M+ (combined 1.25%–3.9%). Yonkers 1.5%. Peconic Bay towns (East Hampton, Southampton, Shelter Island, Southold, Riverhead) 2% Community Preservation Fund tax paid by the buyer above an exemption. A few other cities have their own taxes.
Highest totals in New York on a $400,000 sale
Find your city or county
| Place | County | Total rate | Tax on $400,000 |
|---|---|---|---|
| Chatham | Columbia County | 0.4% | $1,600 |
| East Hampton | Suffolk County | 0.4% | $1,600 |
| Gardiner | Ulster County | 0.473% | $1,894 |
| Kingston | Ulster County | 0.473% | $1,894 |
| Marbletown | Ulster County | 0.459% | $1,835 |
| Mount Vernon | Westchester County | 1.713% | $6,850 |
| New Paltz | Ulster County | 0.981% | $3,925 |
| New York City | New York, Kings, Queens, Bronx and Richmond counties | 1.4% | $5,600 |
| Peekskill | Westchester County | 1.4% | $5,600 |
| Red Hook | Dutchess County | 0.4% | $1,600 |
| Riverhead | Suffolk County | 1.65% | $6,600 |
| Shelter Island | Suffolk County | 0.4% | $1,600 |
| Southampton | Suffolk County | 0.4% | $1,600 |
| Southold | Suffolk County | 1.65% | $6,600 |
| Warwick | Orange County | 0.963% | $3,850 |
| Yonkers | Westchester County | 1.9% | $7,600 |
Total includes the state tax. Click a column to sort.
New York state transfer tax calculator
- State
| Tax | Rate | Who pays | Amount |
|---|---|---|---|
| New York State real estate transfer taxState | $2 per $500 | Seller | $1,600.00 |
| New York mansion taxState | 1% above a threshold | Buyer | $0.00 |
| Total transfer tax (0.4% of the price) | $1,600.00 | ||
"Who pays" is the customary or legal default; your purchase contract can move it. State taxes only — pick your place above to add local taxes.
Transfer tax in New York by home price
| Sale price | Total tax | Effective rate | Seller | Buyer |
|---|---|---|---|---|
| $250,000 | $1,000 | 0.4% | $1,000 | $0 |
| $400,000 | $1,600 | 0.4% | $1,600 | $0 |
| $600,000 | $2,400 | 0.4% | $2,400 | $0 |
| $800,000 | $3,200 | 0.4% | $3,200 | $0 |
| $1,000,000 | $14,000 | 1.4% | $4,000 | $10,000 |
| $1,500,000 | $21,000 | 1.4% | $6,000 | $15,000 |
| $2,500,000 | $35,000 | 1.4% | $10,000 | $25,000 |
| $5,000,000 | $70,000 | 1.4% | $20,000 | $50,000 |
Negotiable amounts are shown half to each side.
Selling in New York?
Transfer tax is usually the second-biggest closing cost after the agent's commission. Comparing agents' fees often saves more than any exemption.
Common exemptions
- Consideration of $500 or less
- Transfers to the U.S., New York State or its agencies/political subdivisions
- Gifts and transfers for no consideration
- Conveyances given only as security for a debt (and their release)
- Deeds that only correct or confirm a prior deed
- Transfers between a person and an entity with no change in beneficial ownership
Questions
Who pays transfer tax in New York?
The seller pays the $2 per $500 state transfer tax; the buyer pays the 1% mansion tax on homes of $1 million or more.
Is the mansion tax charged only on the amount over $1 million?
No. Once the price reaches $1 million, 1% applies to the entire price.
Is the mortgage recording tax a transfer tax?
No. New York's mortgage recording tax (about 1.05%–1.925% depending on county and loan size, mostly paid by the borrower) is charged on the mortgage, not the deed, so it is not included here.
How much is transfer tax on a $500,000 house in New York?
The state part is $2,000; local taxes can add more — pick your city or county above.
Sources
- NY Department of Taxation and Finance – Real estate transfer tax
- NY Tax Law Article 31, §1402 (rate)
- NY Tax Law §1402-a (additional tax on residential conveyances of $1M or more)
Last checked October 13, 2026. Rates in effect for residential sales; commercial, leasehold and entity transfers can differ. Always confirm with your title company or closing attorney before closing.