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New York transfer tax rules (2026)
The seller pays the transfer tax; the buyer pays the mansion tax. New York also taxes mortgages (mortgage recording tax), not included here.
| Tax | Rate | Usually paid by |
|---|---|---|
| State real estate transfer tax ($2 per $500) | 0.4% | Seller |
| Mansion tax (1% on homes of $1 million or more) | 1% of the whole price above $1,000,000 (by price bracket) | Buyer |
| New York City adds its own transfer taxNew York City adds its own transfer tax (1%–1.425%) and higher state rates on large sales | Varies — enter yours | Contract / custom |
New York transfer tax by home price
| Home price | Buyer | Seller | By contract | Total taxes |
|---|---|---|---|---|
| $200,000 | $0 | $800 | — | $800 (0.4%) |
| $225,000 | $0 | $900 | — | $900 (0.4%) |
| $450,000(≈ median) | $0 | $1,800 | — | $1,800 (0.4%) |
| $675,000 | $0 | $2,700 | — | $2,700 (0.4%) |
| $900,000 | $0 | $3,600 | — | $3,600 (0.4%) |
| $1,000,000 | $10,000 | $4,000 | — | $14,000 (1.4%) |
| $1,500,000 | $15,000 | $6,000 | — | $21,000 (1.4%) |
10% down, principal residence. Taxes split by law are shown half to each side. Exemptions (first-time buyer, senior, affordable housing) aren't applied.
New York vs other states
On a $400,000 home New York's taxes are $1,600 (0.4%), the 18th highest of 51. States nearby in the ranking:
- Maine$1,760
- Virginia$1,733
- Georgia$1,480
- South Carolina$1,480
All states: real estate transfer tax by state. Monthly payment: New York mortgage calculator · how much house you can afford in New York.
Sources
Checked 2026-10-23. Rates change — we re-check every state on a schedule. Confirm with your title company or closing attorney.
Closing cost calculators for other states
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Assumptions
- Transfer and recording taxes use each state's published rates; exemptions (first-time buyer, senior, affordable housing) aren't applied unless noted.
- Who pays a tax can be changed by the purchase contract; "either" means local custom or the contract decides.
- Other closing costs (lender, title, appraisal, prepaid items) vary widely — use your Loan Estimate for real numbers.
- New York rules checked 2026-10-23: NYS Department of Taxation — real estate transfer tax; NYS — Publication 577.
Frequently asked questions
How much is the transfer tax in New York?+
On a $450,000 home (about the New York median) the taxes come to $1,800, or 0.4% of the price: State real estate transfer tax ($2 per $500) $1,800 (seller). That doesn't include the new york city adds its own transfer tax, which varies by location.
Who pays the transfer tax in New York, the buyer or the seller?+
State real estate transfer tax ($2 per $500): seller; Mansion tax (1% on homes of $1 million or more): buyer; New York City adds its own transfer tax: set by contract or local custom. Who pays can be negotiated in the purchase contract.
What are closing costs in New York?+
Expect transfer and recording taxes ($1,800 on a $450,000 home) plus lender, title, appraisal and prepaid costs, which typically add about 2%–5% of the price nationally. Your lender's Loan Estimate shows the real numbers.
How does New York compare with other states?+
On a $400,000 home, New York's $1,600 in taxes ranks 18th highest of 50 states and DC. Delaware is highest at $16,000; 15 states charge no state transfer tax at all.
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Uses 2026 rules and limits. Last reviewed October 23, 2026. Calculator version 1.0.0. Sources: Freddie Mac (via industry summaries) — closing costs typically 2%–5% of the purchase price. Results are estimates for educational purposes, not financial, tax or lending advice. How we check our numbers. Embed this calculator on your site for free.