New York City Transfer Tax
New York City charges the whole price is taxed at the bracket rate: 1% up to $500,000, 1.425% above $500,000 on top of the New York state tax (0.4% of the purchase price). On a $595,900 home that is $10,874 in total. NYC real property transfer tax (RPTT) for a 1-to-3-family house, individual residential condo unit or co-op (Type 1/2 residential): 1% of price if $500,000 or less, 1.425% if over $500,000, applied to the full price (a cliff, not marginal). Non-residential and other property rates (1.425% and 2.625%) are higher and not shown here. Since 7/1/2019, NYC conveyances also carry a state-administered 'additional base tax' ($1.25 per $500 on residential consideration of $3,000,000 or more) and 'supplemental tax' (graduated 0.25% to 2.9% on residential consideration of $2,000,000 or more); combined with the statewide 1% mansion tax these produce the NYC mansion tax bracket schedule shown under the mansion tax. This RPTT and the state transfer tax are seller-paid by default; the mansion tax and the NYC additional and supplemental taxes are buyer-paid. NYC also levies a Mortgage Recording Tax on the buyer's loan (combined state and city rate about 1.8% for mortgages under $500,000, and about 1.925% net of the lender's share for 1-3 family or condo mortgages of $500,000 or more), per NY Tax Department Form MT-15.
New York City transfer tax by purchase price
| Purchase price | State tax | New York City | Mansion tax | Total |
|---|---|---|---|---|
| $150,000 | $598 | $1,500 | $0 | $2,098 |
| $200,000 | $798 | $2,000 | $0 | $2,798 |
| $250,000 | $998 | $2,500 | $0 | $3,498 |
| $300,000 | $1,198 | $3,000 | $0 | $4,198 |
| $350,000 | $1,398 | $3,500 | $0 | $4,898 |
| $400,000 | $1,598 | $4,000 | $0 | $5,598 |
| $450,000 | $1,798 | $4,500 | $0 | $6,298 |
| $500,000 | $1,998 | $5,000 | $0 | $6,998 |
| $600,000 | $2,398 | $8,550 | $0 | $10,948 |
| $700,000 | $2,798 | $9,975 | $0 | $12,773 |
| $800,000 | $3,198 | $11,400 | $0 | $14,598 |
| $1,000,000 | $3,998 | $14,250 | $10,000 | $28,248 |
Transfer tax calculator
Who pays
Seller. NYC real property transfer tax (RPTT) for a 1-to-3-family house, individual residential condo unit or co-op (Type 1/2 residential): 1% of price if $500,000 or less, 1.425% if over $500,000, applied to the full price (a cliff, not marginal). Non-residential and other property rates (1.425% and 2.625%) are higher and not shown here. Since 7/1/2019, NYC conveyances also carry a state-administered 'additional base tax' ($1.25 per $500 on residential consideration of $3,000,000 or more) and 'supplemental tax' (graduated 0.25% to 2.9% on residential consideration of $2,000,000 or more); combined with the statewide 1% mansion tax these produce the NYC mansion tax bracket schedule shown under the mansion tax. This RPTT and the state transfer tax are seller-paid by default; the mansion tax and the NYC additional and supplemental taxes are buyer-paid. NYC also levies a Mortgage Recording Tax on the buyer's loan (combined state and city rate about 1.8% for mortgages under $500,000, and about 1.925% net of the lender's share for 1-3 family or condo mortgages of $500,000 or more), per NY Tax Department Form MT-15.
Frequently asked questions
How much is the transfer tax in New York City?
New York City charges the whole price is taxed at the bracket rate: 1% up to $500,000, 1.425% above $500,000, on top of the New York state tax, so a $595,900 home pays $10,874 in total ($2,382 state, $8,492 local).
Who pays the New York City transfer tax?
Seller. NYC real property transfer tax (RPTT) for a 1-to-3-family house, individual residential condo unit or co-op (Type 1/2 residential): 1% of price if $500,000 or less, 1.425% if over $500,000, applied to the full price (a cliff, not marginal). Non-residential and other property rates (1.425% and 2.625%) are higher and not shown here. Since 7/1/2019, NYC conveyances also carry a state-administered 'additional base tax' ($1.25 per $500 on residential consideration of $3,000,000 or more) and 'supplemental tax' (graduated 0.25% to 2.9% on residential consideration of $2,000,000 or more); combined with the statewide 1% mansion tax these produce the NYC mansion tax bracket schedule shown under the mansion tax. This RPTT and the state transfer tax are seller-paid by default; the mansion tax and the NYC additional and supplemental taxes are buyer-paid. NYC also levies a Mortgage Recording Tax on the buyer's loan (combined state and city rate about 1.8% for mortgages under $500,000, and about 1.925% net of the lender's share for 1-3 family or condo mortgages of $500,000 or more), per NY Tax Department Form MT-15.
Sources
- NY Tax Law Article 31
- Who pays
- Mansion tax statute
- Mortgage recording tax statute
- NYC Department of Finance, Real Property Transfer Tax (RPTT) rates
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.
New York transfer tax overview → All New York buyer closing costs →
Figures are computed from the statutes and ordinances cited above and rounded to the dollar. This is general information, not tax or legal advice.
New York transfer tax