Tax Rates
| Property Type and Transaction Value |
NYC RPT | New York State Real Estate Transfer Tax | Mansion Tax | MTGE TAX (NYC) (Except CO-OP) |
MTGE TAX (inc.25% for MT outside NYC exc. CO-OP) |
|---|---|---|---|---|---|
| 1-2-3 Family Residential, Co-Op, or Condo Unit under $500,000.00 | 1% | $2 per $500 | N/A | 2.05% minus $30 for 1-2 family | MTA Counties 1.05% (minus $30 for 1-2 family) All Others 1% |
| 1-2-3 Family Residential, Co-Op, or Condo Unit at $500,000.00 | 1% | $2 per $500 or portion thereof |
N/A | 2.175% minus $30 as above | MTA Counties 1.05% (minus $30 for 1-2 family) All Others 1% |
| 1-2-3 Family Residential, Co-Op, or Condo Unit $500,001 - $999,999 | 1.425% | $2 per $500 or portion thereof |
N/A | 2.175% minus $30 as above | MTA Counties 1.05% (minus $30 for 1-2 family) All Others 1% |
| 1-2-3 Family Residential, Co-Op, or Condo Unit $1,000,000 or more | 1.425% | $2 per $500 or portion thereof |
1% payable by grantee (grantor pays if grantee is exempt) | 2.175% minus $30 as above | MTA Counties 1.05% (minus $30 for 1-2 family) All Others 1% |
| All others under $500,000 | 1.425% | $2 per $500 or portion thereof |
N/A | 2.05% | MTA Counties 1.05% All Others 1% |
| All others at $500,000 | 1.425% | $2 per $500 or portion thereof |
N/A | 2.80% | MTA Counties 1.05% All Others 1% |
| All others $500,001 or more | 2.625% | $2 per $500 or portion thereof |
N/A | 2.80% | MTA Counties 1.05% All Others 1% |
| Payment due date (delivery date is presumed to be date shown on instrument) | 30 days after delivery | 15 days after delivery | 15 days after delivery | 30 days after delivery | 30 days after delivery |
| Penalty for late payment | 5% per month (up to 25%) plus interest | 10% penalty plus 2% interest penalty (up to 25%) plus interest | Same as for RETT | There are penalties | baThere are penalties |