What are the New York State real estate transfer tax brackets?

New York State charges a base transfer tax of $2.00 per $500 (0.40%) for residential sales under $3 Million. For luxury residential sales of $3 Million or more, the base rate increases by an additional $1.25 per $500, making the rate 0.65%.

How does the New York Mansion Tax scale?

The NY Mansion Tax begins at 1.0% for residential purchases of $1 Million or more. It scales progressively up to a maximum rate of 3.9% for ultra-luxury properties priced at $25 Million or higher. Unlike standard closing costs, the buyer is customarily responsible for paying this tax.

What additional fees apply to sales within New York City limits?

Properties sold within NYC are subject to the additional NYC Real Property Transfer Tax (RPTT). The RPTT rate is 1.0% for residential sales of $500,000 or less, and jumps to 1.425% for residential sales above $500,000, creating an extensive closing fee stack for city sellers.

New York · Seller net proceeds

Know exactly what you'll walk away with in New York.

Pre-loaded with New York transfer-tax rules, recording-fee estimates, and title-insurance customs. Every field stays editable.

Property label

Shown on the PDF report and used in the file name.

Sale details

Sale price

Estimated closing date

Current mortgage balance

Agent commissions

Seller agent commission3%

Buyer agent commission2.5%

Estimated closing expenses

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Property state

• NY transfer tax: 0.40% under $1M; +1.0% Mansion Tax at $1M+ (1.40% total).

• The Seller pays the base state transfer taxes, while the Buyer is legally responsible for paying the Mansion Tax and title insurance.

• Sales of $1 Million or more trigger the progressive New York Mansion Tax (paid by the Buyer).

State guide

Understanding Closing Costs & Net Proceeds in New York

Calculating your take-home cash or net investment returns requires an accurate understanding of local state statutes, tax brackets, and real estate customs. While national real estate platforms give vague averages, RealCalc uses hyper-localized financial calculations to evaluate your exact transaction costs.

Key local custom breakdown

State transfer taxes: Calculated automatically based on New York's tax codes.
Title insurance custom: Set to match New York local custom, but completely adjustable.
Commission structure: Fully compliant with decoupled representation structures to prevent equity overpayment.

How the New York transfer tax is calculated

Base Transfer Tax = Sale Price × 0.004

Example: $750,000 × 0.004 = $3,000

Sales of $1M+ add a 1.0%–3.9% progressive Mansion Tax (paid by the buyer).

Frequently asked questions (New York real estate)

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