City of New
York Transfer and Mortgage Tax Guide
(As of July 1, 1996)
The information provided is believed to be accurate, but is not guaranteed.
| Property Type And Transaction Value | NYC RPT | New York State Documentary Stamps | "Mansion Tax" | NYS "Gains Tax" | MTGE Tax (NYC) (Except Co-Op) | MTGE TX
(Outside NYC) Downstate Counties (Except Co-op) |
| 1-2-3 Family Residential, Co-Op or Condo Unit at $500,000.00 | 1% of conveyance price | $2 per $500 of conveyance price | N/A | REPEALED | 2.00% minus $25 for 1-2 family | 1.00% minus $25 for 1-2 family |
| 1-2-3 Family Residential, Co-Op or Condo Unit at $500,000.00 | 1% | $2 per $500 | N/A | REPEALED | 2.125% minus $25 as above | 1.00% minus $25 as above |
| 1-2-3 Family
Residential, Co-Op or Condo Unit $500,001- $999,999 |
1.425% | $2 per $500 | N/A | REPEALED | 2.125% minus $25 as above | 1.00% minus $25 as above |
| 1-2-3 Family Residential, Co-Op or Condo Unit $1,000,000 or more | 1.425% | $2 per $500 | 1% of sales price payable by grantee (grantor pays if grantee is exempt) | REPEALED | 2.125% minus $25 as above | 1.00% minus $25 as above |
| All others under $500,000 | 1.425% | $2 per $500 | N/A | REPEALED | 2.00% | 1.00% |
| All others at $500,000 | 1.425% | $2 per $500 | N/A | REPEALED | 2.75% | 1.00% |
| All others $500,001- $999,999 |
2.625% | $2 per $500 | N/A | REPEALED | 2.75% | 1.00% |
| All others $1,000,000 or more | 2.625% | $2 per $500 | N/A | REPEALED | 2.75% | 1.00% |
| 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presumed to be date shown on instrument) | 30 days after delivery | 15 days after delivery | 15 days after delivery | REPEALED | Upon recording | Upon recording |
| 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(up to 25%) plus interest | 10% penalty plus 2% interest penalty (up to 25%) plus interest | same as for deed stamps | REPEALED | N/A | N/A |
While care has been taken in preparation of this document, warranty or representation of accuracy is not made. This chart is for reference only.
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