Mount Vernon transfer tax
On a $400,000 home sale in Mount Vernon, NY, transfer taxes come to $6,850 (1.713% of the price): New York State real estate transfer tax ($2 per $500), New York mansion tax (1% above a threshold) and City of Mount Vernon real property transfer tax (1.5% above a threshold), paid by the seller.
We couldn't fully confirm this rate from an official source. Treat it as an estimate and check with the local tax office.
Rate changed several times (1% over $100K before 2024; 1.5% over $50K from 2024; A7348 signed 12/2025; city implementation 2/1/2026). Sources disagree on the deduction ($50K vs $100K), so confirm with the city before closing.
Mount Vernon transfer tax calculator
- State
- City
| 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 |
| City of Mount Vernon real property transfer taxCity | 1.5% above a threshold | Seller | $5,250.00 |
| Total transfer tax (1.713% of the price) | $6,850.00 | ||
"Who pays" is the customary or legal default; your purchase contract can move it.
Transfer tax in Mount Vernon by home price
| Sale price | Total tax | Effective rate | Seller | Buyer |
|---|---|---|---|---|
| $250,000 | $4,000 | 1.6% | $4,000 | $0 |
| $400,000 | $6,850 | 1.713% | $6,850 | $0 |
| $600,000 | $10,650 | 1.775% | $10,650 | $0 |
| $800,000 | $14,450 | 1.806% | $14,450 | $0 |
| $1,000,000 | $28,250 | 2.825% | $18,250 | $10,000 |
| $1,500,000 | $42,750 | 2.85% | $27,750 | $15,000 |
| $2,500,000 | $71,750 | 2.87% | $46,750 | $25,000 |
| $5,000,000 | $144,250 | 2.885% | $94,250 | $50,000 |
Negotiable amounts are shown half to each side.
Selling in Mount Vernon?
Transfer tax is usually the second-biggest closing cost after the agent's commission. Comparing agents' fees often saves more than any exemption.
Exemptions in New York
- 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
Local exemptions can differ; see New York transfer tax.
Elsewhere in Westchester County
Questions
What is the transfer tax rate in Mount Vernon?
1.713% of the price on a $400,000 sale: New York State real estate transfer tax ($2 per $500); New York mansion tax (1% above a threshold); City of Mount Vernon real property transfer tax (1.5% above a threshold).
Who pays transfer tax in Mount Vernon?
New York State real estate transfer tax: Seller — Seller (grantor) by law; buyer pays if the seller does not or is exempt.. New York mansion tax: Buyer — Paid by the buyer; seller pays if buyer is exempt.. City of Mount Vernon real property transfer tax: Seller. The purchase contract can assign it differently.
How much is transfer tax on a $500,000 house in Mount Vernon?
$8,750 in total (seller $8,750, buyer $0).
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.
Sources
- NY Tax Law sec. 1205 (Mount Vernon deed tax authorization)
- NY Assembly Bill A7348 of 2025
- Abstracts Inc. - Mt Vernon transfer tax update effective Feb 1, 2026
- NY Department of Taxation and Finance – Real estate transfer tax
- NY Tax Law Article 31, §1402 (rate)
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.