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Schedule of Taxes
| Property Type and Transaction
Type |
Mortgage Tax
(NYC);
(Except Co-Ops) |
Mortgage Tax
(outside NYC)
(Except Co-ops) |
| 1-2-3 Family
Residential, Co-Op, and Condo Unit under $500,000.00 |
2.05% (o.25% paid by Lender;
1.80% by Mortgagor minus $30 for 1 and 2 family |
1.05% (0.25% paid by Lender;
0.80% paid by Mortgagor minus $30 for 1 and 2
family |
| 1-2-3 Family
Residential, Co-Op, and Condo Unit at $500,000.00 |
2.175% (o.25% paid by Lender;
1.925% by Mortgagor minus $30 for 1 and 2 family |
Same as above |
| 1-2-3 Family
Residential, Co-Op, and Condo Unit at $500,000.00
- $1,000,000.00. |
2.175% (o.25% paid by Lender;
1.925% by Mortgagor minus $30 for 1 and 2 family |
Same as above |
| 1-2-3 Family
Residential, Co-Op, and Condo Unit at $1,000,000.00
or more |
2.175% (o.25% paid by Lender;
1.925% by Mortgagor minus $30 for 1 and 2 family |
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| All others
under $500,000.00 |
2.05% to the Borrower |
1.05% |
| All others
at $500,000.00 |
2.80% |
1.05% |
| All others,
$500,000.00 - $1,000,000.00 |
2.80% |
1.05% |
| All others
$1,000,000.00 or more |
2.80% |
1.05% |
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* Westchester Mortgage
Tax is now 1.30% (.25% paid by Lender and 1.05%
paid by Mortgagor |
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Transfer Tax (click to open up table)
| Property Type and Transaction
Type |
NYC RPT |
NYS Transfer Stamps |
Mansion Tax |
NYS Gains Tax |
| 1-2-3 Family Residential, Co-Op,
and Condo Unit under $500,000.00 |
1% or Conveyance Price plus filing fee |
$2.00 per $500 of Conveyance Price. |
N/A |
N/A with affidavit |
| 1-2-3 Family Residential, Co-Op,
and Condo Unit at $500,000.00 |
1% or Conveyance Price plus filing fee |
$2.00 per $500 of Conveyance Price. |
N/A |
N/A with affidavit of use as Seller's principal
residence; otherwise Tentative Assessment required but
no tax is due |
| 1-2-3 Family Residential, Co-Op,
and Condo Unit at $500,000.00 - $1,000,000.00. |
1.425% of Conveyance Price plus filing fee. |
$2.00 per $500 of Conveyance Price. |
N/A |
Same as above |
| 1-2-3 Family Residential, Co-Op,
and Condo Unit at $1,000,000.00 or more |
1.425% of Conveyance Price plus filing fee. |
$2.00 per $500 of Conveyance Price. |
1.00% of sales price payable by Grantee
(Grantor pays if Grantee is exempt) |
Same as for $500,000.00 but only to the
extent of the portion of the premises used & occupied
as seller's residentce |
| All others under $500,000.00 |
1.425% of Conveyance Price plus filing fee. |
$2.00 per $500 of Conveyance Price. |
N/A |
N/A with affidavit |
| All others at $500,000.00 |
1.425% of Conveyance Price plus filing fee. |
$2.00 per $500 of Conveyance Price. |
N/A |
No tax but tentative assessment required |
| All others, $500,000.00 - $1,000,000.00 |
2.625% of Conveyance price plus filing fee |
$2.00 per $500 of Conveyance Price. |
N/A |
No tax but tentative assessment required |
| All others $1,000,000.00 or more |
2.625% of Conveyance price plus filing fee |
$2.00 per $500 of Conveyance Price. |
N/A |
Tentative assessment required; Tax to extent
of gain |
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Disclaimer: Home Abstract represents that the information contained in its website is reliable, however, it does not guarantee the accuracy of any of the information or forms presented herein.
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