Advantage Title - New York Transfer Tax Rates

Revised: 9.12.2008

New York State Transfer Tax (as of 8.1.2006)

$2.00 per $500 of purchase price

Residential

Including 1, 2, 3 family residential dwellings, single unit co-ops or single unit condos.

$2.00 per $500 of purchase price

Commercial

Real Property Transfer Tax

New York City

Residential	Commercial
1% $500,000 and less 1.425% More than $500,000	1.425% $500,000 and less 2.625% More than $500,000

Mt. Vernon

1% Residential	1% Commercial
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

2% (paid by the purchaser)

Residential

2% (paid by the purchaser)

Commercial

Exemptions for Peconic Bay

Shelter Island, South Hampton and East Hampton: $250,000 for improved property and $100,000 for unimproved property
For more information on exemptions for first time homebuyers in the towns of Southampton, East Hampton and Shelter Island, please read this.
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

Residential	Commercial
1.5% More than $25,000	1.5% More than $25,000

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

1% (paid by the purchaser)

Residential

Including 1, 2, 3 family residential dwellings, single unit co-ops or single unit condos.

N/A

Commercial

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.

For contact information for all New York State County Clerk offices, please click here.