New York Mortgage Tax Rates

Revised: 9.12.2008

New York City

Residential	Commercial (not 1, 2, 3 family or condo)
2.05% Loan amount less than $500,000 The borrower pays 1.80% minus $30.00 if the property is 1-2 family and the loan is $10,000 or more.* The lender pays .25% if the property is a 1-6 family.	2.05% Loan amount less than $500,000 The borrower pays the entire amount.
2.175% More than $500,000 The borrower pays 1.925% minus $30.00 if the property is 1-2 family and the loan is $10,000 or more.* The lender pays .25% if the property is a 1-6 family.	2.80% More than $500,000 The borrower pays the entire amount.

Orange, Putnam, Nassau and Suffolk

1.05%

Residential

The borrower pays .80% minus $30.00 if the property is 1-2 family and the loan is $10,000 or more.*

The lender pays .25% if the property is a 1-6 family.

1.05%

Commercial

The borrower pays the entire amount.

Rockland and Dutchess

1.30%

Residential

The borrower pays 1.05% minus $30.00 if the property is 1-2 family and the loan is $10,000 or more.*

The lender pays .25% if the property is a 1-6 family.

1.30%

Commercial

The borrower pays the entire amount.

Westchester (except Yonkers)

1.30%

Residential

The borrower pays 1.05% minus $30.00 if the property is 1-2 family and the loan is $10,000 or more.*

The lender pays .25% if the property is a 1-6 family.

1.30%

Commercial

The borrower pays the entire amount.

Yonkers

1.80%

Residential

The borrower pays 1.55% minus $30.00 if the property is 1-2 family and the loan is $10,000 or more.*

The lender pays .25% if the property is a 1-6 family.

1.80%

Commercial

The borrower pays the entire amount.

* For mortgages less than $10,000, the mortgage tax is .30% less than the regular applicable rate.

A .25% exemption is permitted pursuant to Sec. 253 of the Tax Law for transactions involving 1-6 family dwellings where the lender is a natural person. This exemption does not apply to vacant land.

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