New York State Transfer Tax (as of 8.1.2006)

Residential Rate Commercial Rate
$4.00 per $1000 of purchase price $4.00 per $1000 of purchase price
Includes 1, 2, 3 family residential dwellings, single unit co-ops or single unit condos.


Real Property Transfer Tax

New York City:

Price Residential Rate Commercial Rate
$500,000 or less 1% 1.425%
More than $500,000 1.425% 2.625%

Mt. Vernon:

Residential Rate Commercial Rate
1% 1%

1% of purchase price with a $100,000 exemption (first $100,000 of purchase price is exempt, therefore subtract $100,000 from the purchase price then calculate the 1%).


Peconic Bay:

Residential Rate Commercial Rate
2% (paid by purchaser) 2% (paid by purchaser)

Exemptions for the Peconic Bay Tax

  • Shelter Island, Southampton and East Hampton: $250,000 for improved property and $100,000 for unimproved property
  • Southold and Riverhead: $150,000 for improved property and $75,000 for unimproved property

The applicable exemption amount is subtracted from the purchase price; then calculate the 2% tax.



Yonkers:

Price Residential Rate Commercial Rate
More than $250,000 1.5% 1.5%


Peekskill:

Residential Rate Commercial Rate
1% 1%



Mansion Tax (Purchase price $1,000,000 or more)

Residential Rate Commercial Rate
1% (paid by purchaser) N/A
Including 1, 2, 3 family residential dwellings, single unit co-ops or single unit condos.

Payment due date for the NYC-RPT is 30 days after delivery. The New York State Transfer Tax and Mansion Tax is due 15 days after delivery. Penalty for late payment.
The delivery date is presumed to be the date shown on the instrument.

NEW YORK STATE COUNTY CLERK INFORMATION



All fees are subject to change. Please contact Freedom Land Title for an accurate title invoice