United States · Transfer Tax
New York's state transfer tax is $2 per $500 of consideration, or 0.4% of the price — but the state rate is only the first layer. New York City adds its own transfer tax of 1.0% up to $500,000 and 1.425% above, and the mansion tax kicks in at 1% for purchases over $1 million, rising to 3.9% above $25 million. A $750,000 NYC apartment therefore carries roughly $4,275 in combined transfer taxes before recording fees — one of the heaviest closing-cost loads in the country.
Preset rates are indicative reference values only. Confirm current rates and any reliefs with your local tax authority.
Jurisdiction comparison at $750,000.00
New York pays $3,000.00 (0.4%) vs New York at $3,000.00 (0.4%).
State transfer tax of $2 per $500 (0.4%); New York City adds 1.0–1.425% and the mansion tax adds 1%+ above $1 million. Bands below are the standard residential buyer schedule used by the calculator.
| Property value | Rate |
|---|---|
| All values | Flat 0.4% of the full value |
Indicative figures compiled August 2026 — official source: New York State Department of Taxation and Finance. Rates are typically indexed or revised each financial year.
A USD 750,000.00 purchase in New York attracts about USD 3,000.00 in transfer tax at the standard indicative rates — an effective rate of 0.4%. Recording fees are small ($50–250), but title insurance and the attorney review customary in NYC add thousands to closing. That makes the all-in cash requirement USD 753,000.00 before you factor in any deposit, legal work, or moving costs. Adjust the price in the calculator to model your own number.
State transfer tax of $2 per $500 (0.4%); New York City adds 1.0–1.425% and the mansion tax adds 1%+ above $1 million. Rates change with legislation and vary by buyer circumstances, so treat these as planning figures and confirm the current rate with New York State Department of Taxation and Finance before you commit.
At the indicative rates above, a USD 750,000.00 property attracts about USD 3,000.00 in transfer tax — an effective rate of 0.4%. Recording fees are small ($50–250), but title insurance and the attorney review customary in NYC add thousands to closing.. The calculator above lets you change the price and see the result instantly.
There is no general first-time buyer exemption in New York at the standard indicative rates. State rate 0.4% ($2 per $500) applies to the full consideration. Check current eligibility rules with New York State Department of Taxation and Finance.
The buyer pays the tax in essentially every case in this market. It is payable in full before or at settlement and cannot normally be added to a mortgage, so it must be part of your cash budget alongside the deposit.
How we calculate: the calculator applies the official band schedule marginally — each rate applies only to the slice of the price inside its band, exactly as the revenue authority does. Worked examples are computed with the same function.
Last reviewed: . Learn more about Nirmal Lashkari and LashkariProperties.
Disclaimer: transfer tax rates change with legislation and vary by buyer circumstances. These are indicative planning figures, not tax advice — confirm every number with New York State Department of Taxation and Finance or a qualified local professional.
