NEW YORK STATE TRANSFER TAX RATES

 

County                                                                                                County            State               Total

                                                                                                            Tax Rate        Tax Rate        Tax Rate

 

New York, Kings, Queens, Bronx, Richmond

 

·        Residential* 1-3 Family under $500,000                       1.00%              0.40%              1.40%

·        Residential* 1-3 Family over $500,00 but under           1.425%            0.40%              1.825%

$1,00,000

·        Residential* 1-3 Family over $1,000,000

requires the addition of the 1.00% “Mansion” Tax         1.425%            1.40%              2.825%

                       

·        All other properties (including Commercial) under        1.425%             0.40%              1.825%

$500,000

·        All other properties (including Commercial) over           2.625%            0.40%              3.025%

$500,000

 

Westchester – Yonkers

 

·        Residential 1-3 Family under $1,000,000 ** and          1.00%              0.40%              1.40%

all other properties

·        Residential 1-3 Family over $1,000,000                        1.00%              1.40%              2.40%

 

Westchester – Mt. Vernon (Taxable consideration for Mt. Vernon Tax is Purchase price less $100,000 exclusion)

 

·        Residential 1-3 Family under $1,000,000 and all           1.00%              0.40%              1.40%

other properties

·        Residential 1-3 Family over $1,000,000                        1.00%              1.40%              2.40%

 

Westchester – All other locations

·        Residential 1-3 Family under $1,000,000 and all           ------               0.40%              0.40%

other properties                                                            ------

·        Residential 1-3 Family over $1,000,000                                                1.40%              1.40%

 

Suffolk County- East Hampton, Shelter Island & Southampton

(Taxable consideration for Peconic Bay Tax Purchase Price less $250,000 exclusion

for improved property and less $100,000 exclusion for unimproved properties)

 

·        Residential 1-3 Family under $1,000,000 and all           2.00%              0.40%              2.40%

other properties

·        Residential 1-3 Family over $1,000,000                        2.00%              1.40%              3.40%

 

Suffolk County – Riverhead & Southold (Taxable consideration for Peconic Bay Tax is Purchase

Price $150,000 exclusion for improved property and less $75,000 exclusion for improved properties)

 

·        Residential 1-3 Family under $1,000,000and all            2.00%              0.40%              2.40%

other properties

·        Residential 1-3 Family over $1,000,000                        2.00%              1.40%              3.40%

 

Suffolk County  - All other locations

 

·        Residential 1-3 Family under $1,000,000 and all           ------               0.40%              0.40%

other properties

·        Residential 1-3 Family over $1,000,000                        ------               1.40%              1.40%

 

Erie County

 

·        Residential 1-3 Family under $1,000,000 and all           0.90%              .040%              1.30%

other properties

·        Residential 1-3 Family over $1,000,000                        0.90%              1.40%              2.30%

 

All other locations in New York State

 

·        Residential 1-3 Family under $1,000,000 and all           ------               0.40%              0.40%

other properties

·        Residential 1-3 Family over $1,000,000                        ------               1.40%              1.40%

 

 

*When more than one condo or coop unit (each with a kitchen) is transferred the transaction counts as commercial for New York City Tax purpose.

 

**No County Tax if  Consideration is under $25,000.