Southold transfer tax
On a $400,000 home sale in Southold, NY, transfer taxes come to $6,600 (1.65% of the price): New York State real estate transfer tax ($2 per $500), New York mansion tax (1% above a threshold) and Peconic Bay Region CPF transfer tax (Southold) (2.5% above a threshold), split between buyer and seller as shown below.
Suffolk County has no county transfer tax. The NYS 0.4% transfer tax and the state mansion tax ($1M+ homes) also apply.
Southold transfer tax calculator
- State
- Special
| 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 |
| Peconic Bay Region CPF transfer tax (Southold)Special | 2.5% above a threshold | Buyer | $5,000.00 |
| Total transfer tax (1.65% of the price) | $6,600.00 | ||
"Who pays" is the customary or legal default; your purchase contract can move it.
Transfer tax in Southold by home price
| Sale price | Total tax | Effective rate | Seller | Buyer |
|---|---|---|---|---|
| $250,000 | $2,250 | 0.9% | $1,000 | $1,250 |
| $400,000 | $6,600 | 1.65% | $1,600 | $5,000 |
| $600,000 | $12,400 | 2.067% | $2,400 | $10,000 |
| $800,000 | $18,200 | 2.275% | $3,200 | $15,000 |
| $1,000,000 | $34,000 | 3.4% | $4,000 | $30,000 |
| $1,500,000 | $53,500 | 3.567% | $6,000 | $47,500 |
| $2,500,000 | $92,500 | 3.7% | $10,000 | $82,500 |
| $5,000,000 | $190,000 | 3.8% | $20,000 | $170,000 |
Negotiable amounts are shown half to each side.
Selling in Southold?
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 Suffolk County
Questions
What is the transfer tax rate in Southold?
1.65% 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); Peconic Bay Region CPF transfer tax (Southold) (2.5% above a threshold).
Who pays transfer tax in Southold?
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.. Peconic Bay Region CPF transfer tax (Southold): Buyer — Paid by the grantee (buyer).. The purchase contract can assign it differently.
How much is transfer tax on a $500,000 house in Southold?
$9,500 in total (seller $2,000, buyer $7,500).
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
- Town of Southold FAQ - How do you calculate the CPF tax?
- Benchmark Title - Changes to Peconic Bay CPF tax rate and allowances (2023)
- NY Tax Law sec. 1449-bb (Peconic Bay CPF tax 2% + 0.5% community housing supplemental)
- NY Tax Law sec. 1449-ee (Peconic Bay exemptions)
- 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.