New York transfer tax calculator
State real estate transfer tax of $2 per $500 of consideration (0.4%), plus 0.25% on residential sales of $3 million or more in New York City. Mansion tax of 1% paid by the buyer on residences of $1 million or more, graduated up to 3.9% in New York City.
Reviewed October 15, 2026. The math is shown line by line.
New York transfer tax on a $424,000 sale
- State real estate transfer taxseller pays$1,696$424,000 ÷ $500 = 848 units (rounded up for any fraction) × $2 = $1,696
- Mansion tax (outside New York City)buyer pays$0$424,000 is not over $999,999.99, so no tax applies
- seller pays
- $1,696
- buyer pays
- $0
- Total transfer tax
- $1,696
Statutory transfer taxes on a $424,000 sale, as of the reviewed date. Who pays is custom and contract outside the statute’s primary liability. Local taxes described above are not in this figure unless listed as a line. Recording fees, title and attorney charges are separate.
The rule behind the numbers
- Transfer tax
- State real estate transfer tax of $2 per $500 of consideration (0.4%), plus 0.25% on residential sales of $3 million or more in New York City. Mansion tax of 1% paid by the buyer on residences of $1 million or more, graduated up to 3.9% in New York City. Source: tax.ny.gov
- Who customarily pays
- Seller pays the transfer tax by statute. Buyer pays the mansion tax. Source: tax.ny.gov
- Local transfer taxes
- New York City real property transfer tax of 1% on residential sales up to $500,000 and 1.425% above, paid by the seller, plus the state’s additional 0.25% on residential sales of $3 million or more and a mansion tax graduated from 1% at $1 million to 3.9% at $25 million, paid by the buyer. Several counties and towns, including the Peconic Bay towns, levy their own. Source: nyc.gov
Sources
Ike Mortgage LLC. NMLS ID pending. For licensing information, go to: www.nmlsconsumeraccess.org. Nothing on this page is a loan payment, rate, term or down payment, and nothing here is a Loan Estimate.