New York City transfer tax
On a $400,000 home sale in New York City, NY, transfer taxes come to $5,600 (1.4% of the price): New York State transfer tax (NYC rate) ($2–$3.25 per $500 by price), New York mansion tax (NYC tiers) (1%–3.9% by price) and NYC real property transfer tax (residential) (1%–1.425% by price), paid by the seller.
Includes New York State's NYC-specific rates: the 0.65% state tax on residential sales of $3M+ and the buyer-paid mansion tax tiers (1%–3.9%) on $1M+ homes.
New York City transfer tax calculator
- State
- City
| Tax | Rate | Who pays | Amount |
|---|---|---|---|
| New York State transfer tax (NYC rate)State | $2–$3.25 per $500 by price | Seller | $1,600.00 |
| New York mansion tax (NYC tiers)State | 1%–3.9% by price | Buyer | $0.00 |
| NYC real property transfer tax (residential)City | 1%–1.425% by price | Seller | $4,000.00 |
| Total transfer tax (1.4% of the price) | $5,600.00 | ||
"Who pays" is the customary or legal default; your purchase contract can move it.
Transfer tax in New York City by home price
| Sale price | Total tax | Effective rate | Seller | Buyer |
|---|---|---|---|---|
| $250,000 | $3,500 | 1.4% | $3,500 | $0 |
| $400,000 | $5,600 | 1.4% | $5,600 | $0 |
| $600,000 | $10,950 | 1.825% | $10,950 | $0 |
| $800,000 | $14,600 | 1.825% | $14,600 | $0 |
| $1,000,000 | $28,250 | 2.825% | $18,250 | $10,000 |
| $1,500,000 | $42,375 | 2.825% | $27,375 | $15,000 |
| $2,500,000 | $76,875 | 3.075% | $45,625 | $31,250 |
| $5,000,000 | $216,250 | 4.325% | $103,750 | $112,500 |
Negotiable amounts are shown half to each side.
Selling in New York City?
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.
Questions
What is the transfer tax rate in New York City?
1.4% of the price on a $400,000 sale: New York State transfer tax (NYC rate) ($2–$3.25 per $500 by price); New York mansion tax (NYC tiers) (1%–3.9% by price); NYC real property transfer tax (residential) (1%–1.425% by price).
Who pays transfer tax in New York City?
New York State transfer tax (NYC rate): Seller. New York mansion tax (NYC tiers): Buyer. NYC real property transfer tax (residential): Seller — Grantor (seller) pays; the grantee (buyer) pays if the seller is exempt (e.g. a government seller).. The purchase contract can assign it differently.
How much is transfer tax on a $500,000 house in New York City?
$7,000 in total (seller $7,000, 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
- NYC Department of Finance - Real Property Transfer Tax (RPTT)
- NY Tax Law sec. 1402 (state RETT incl. NYC supplemental rate)
- NY Tax Law §1402 and §1402-a (real estate transfer tax, mansion tax)
- 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.