New York Transfer Tax: How Much It Is and Who Pays
New York's Real Estate Transfer Tax is 0.4% of the purchase price: $2,382 on a $595,900 home. Cities and counties add their own; New York City's brings the total there to $10,874.
New York transfer tax by purchase price
| Purchase price | State tax | Mansion tax | Total |
|---|---|---|---|
| $150,000 | $598 | $0 | $598 |
| $200,000 | $798 | $0 | $798 |
| $250,000 | $998 | $0 | $998 |
| $300,000 | $1,198 | $0 | $1,198 |
| $350,000 | $1,398 | $0 | $1,398 |
| $400,000 | $1,598 | $0 | $1,598 |
| $450,000 | $1,798 | $0 | $1,798 |
| $500,000 | $1,998 | $0 | $1,998 |
| $600,000 | $2,398 | $0 | $2,398 |
| $700,000 | $2,798 | $0 | $2,798 |
| $800,000 | $3,198 | $0 | $3,198 |
| $1,000,000 | $3,998 | $10,000 | $13,998 |
Transfer tax calculator
Who pays
In New York the seller pays the transfer tax by statute or custom, so it usually reduces the seller's proceeds rather than adding to the buyer's closing costs. Paid by the seller/grantor by default; may shift to the buyer by contract, or if the seller fails to pay or is exempt. Source
City and county transfer taxes in New York
These stack on the state tax. Open a jurisdiction for the combined figure at every price.
| Jurisdiction | Local rate | Total on a $595,900 home |
|---|---|---|
| New York City | the whole price is taxed at the bracket rate: 1% up to $500,000, 1.425% above $500,000 | $10,874 |
| Erie County | $2.50 per $500 of price or fraction (0.5%) | $5,362 |
Mansion tax
Applies only to residential conveyances of $1,000,000 or more. Statewide (Tax Law 1402-a), a flat 1% applies to the full price (scope 'statewide', for anywhere in New York including NYC as the base layer). Within New York City, the state's NYC-specific additional base tax and supplemental tax combine with that 1% to produce the graduated bracket schedule shown as scope 'nyc', use the 'nyc' tiers instead of the flat statewide 1% for NYC properties. All tiers apply to the whole price (cliff basis, not marginal) and are buyer-paid.
Frequently asked questions
How much is the transfer tax in New York?
The state rate is 0.4% of the purchase price, which is $2,382 on a $595,900 home; New York City and Erie County add a local tax on top.
Who pays the transfer tax in New York?
In New York the seller pays the transfer tax by statute or custom, so it usually reduces the seller's proceeds rather than adding to the buyer's closing costs. Paid by the seller/grantor by default; may shift to the buyer by contract, or if the seller fails to pay or is exempt. Source
Is there a mortgage or recordation tax too?
Yes: New York also taxes the mortgage when it is recorded, marginal brackets:, paid by the borrower. New York State imposes a Mortgage Recording Tax (Tax Law Article 11) that varies by county (a statewide base rate plus local add-ons, commonly around 0.75%-1.05% depending on county and loan type outside NYC; not itemized county-by-county here). NYC's combined rate is documented under 'local' > New York City, other_buyer_costs-style, in notes there. By law the 'special additional tax' component (0.25%) on a mortgage secured by 1-6 family residential property must be paid by the LENDER, not the borrower.
Are there exemptions?
No general first-time-buyer exemption from the base transfer tax; various technical exemptions (government transfers, nominal consideration) exist under Tax Law 1405.
Sources
Rates as the statute or revenue department publishes them, checked 2026-09-22. Figures are computed from those rates and rounded to the dollar; exemptions for first-time buyers or principal residences are noted where they exist and are not applied. All sources.
All New York buyer closing costs → New York title insurance cost →
Figures are computed from the statute cited above and rounded to the dollar. This is general information, not tax or legal advice.
Transfer tax in every state