What is the New York State real estate transfer tax rate?

New York State charges a seller-paid real estate transfer tax of $2.00 per $500 of sale price — a flat 0.40% — and that rate applies at every price point statewide. An additional 0.25% state transfer tax applies only to New York City residential sales of $3 million or more.

Who pays the New York mansion tax?

The buyer pays it, not the seller. The statewide mansion tax is 1% on residential sales of $1 million or more. Inside New York City a progressive supplemental mansion tax applies on top of that, also buyer-paid. Because it is a buyer cost, Sumline does not deduct it from your seller net proceeds — but it still affects what price the market will bear.

What additional fees apply to sales within New York City limits?

Properties sold within NYC owe the NYC Real Property Transfer Tax (RPTT), paid by the seller: 1.0% for residential sales of $500,000 or less, and 1.425% for residential sales above $500,000. NYC residential sales of $3 million or more also add the 0.25% state transfer tax.

New York seller net sheet · For listing agents

Run a New York seller net sheet during the client conversation

New York transfer-tax, recording-fee and title assumptions are preloaded, and every field stays editable. Turn the result client-ready and send it to your seller.

Your first complete Seller client-ready package is free — no credit card.

Tax tables & post-NAR commission guidelines updated for 2026.

Example deal — edit any number to analyze your own.

Estimated Net ProceedsExample

$205,200

Closing Nov 26, 2026 · $319,800 in payoff, commissions & costs

Enter property address to pre-fill data

We'll pre-fill the state, county transfer taxes, title custom and an estimated property tax bill. Every number stays editable.

Seller details

Everything else already uses sensible local defaults.

Sale price

Outstanding mortgage payoff

Seller agent commission3%

Buyer agent commission2.5%

Seller concessions

Property state

Closing Nov 26, 2026 — change it under Review detailed assumptions.

Your work is kept automatically.

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Add a plain-English summary, then send it to your seller as a branded PDF or a secure link.

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Estimated net proceedsExample

$205,200

Closing on Nov 26, 2026 · $319,800 in payoff, commissions & costs

Where the gross sale goes

$525,000 sale price broken down

Mortgage Payoff
$285,000
54.3% of gross sale
Total Commissions
$28,875
5.5% of gross sale
Closing/Agent costs
$5,925
1.1% of gross sale
Net proceeds
$205,200
39.1% of gross sale

Itemized breakdown

Every line, and the share you pay as the seller

Itemized seller closing cost breakdown
Item	Full	Your share
Sale price	—	$525,000
Mortgage payoff	—	−$285,000
Listing agent commission(3%)	—	−$15,750
Buyer agent commission(2.5%)	—	−$13,125
Title Insurance Policy(Seller)	$1,800	−$1,800
Transfer Tax	$2,100	−$2,100
Recording Fees	$150	−$150
Escrow / Settlement Fee(50/50)	$950	−$475
Prorated Property Taxes	$1,400	−$1,400
Estimated net proceeds		$205,200

Selling a primary residence? Read our capital gains tax on home sale guide to estimate any federal tax owed on top of these net proceeds.

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New York closing costs at a glance

Transfer tax

Required by law

New York State real estate transfer tax is a flat 0.40% ($2 per $500) of the sale price at every price point, paid by the seller. The 1% mansion tax on residential sales of $1 million or more is paid by the buyer and is not deducted from seller proceeds.

Owner's title policy

Customary practice

The seller pays the New York State transfer tax. The buyer customarily pays for title insurance and is responsible for the mansion tax.

Recording fees

Required by law

Estimated at $250 in the calculator above.

Commissions

Negotiated

Listing commission and any buyer-agent concession are negotiated separately.

Customary practices vary and every editable cost can be adjusted in the calculator above.

Reviewed August 1, 2026

Sources

Seller guide

Understanding Closing Costs & Net Proceeds in New York

New York sellers face one of the most layered closing-cost stacks in the country — a flat state transfer tax, an extra NYC transfer tax if you're in the five boroughs, and a mansion tax paid by your buyer that can still affect what price they're willing to offer.

Key local custom breakdown

State transfer tax: New York State charges a flat 0.40% ($2 per $500) of the sale price at every price point, paid by the seller. NYC residential sales of $3M or more add another 0.25% state transfer tax.
NYC RPTT: Properties inside New York City add a 1.0% Real Property Transfer Tax (1.425% on residential sales over $500K), also paid by the seller.
Mansion tax — buyer-paid: The statewide mansion tax is 1% on residential sales of $1M or more and is paid by the buyer. Inside NYC a progressive supplemental mansion tax applies on top, also buyer-paid. Neither is deducted from your seller proceeds.

How the New York transfer tax is calculated

Seller's State Transfer Tax = Sale Price × 0.004  ($2 per $500, flat at every price)

Example: $750,000 × 0.004 ($2 per $500, flat at every price) = $3,000

Buyer-paid: the statewide 1% mansion tax on residential sales of $1M or more, plus NYC's progressive supplemental mansion tax. NYC sales also owe the NYC RPTT (1.0%, or 1.425% over $500K), and NYC residential sales of $3M or more add a 0.25% state transfer tax.

Frequently asked questions (New York real estate)

What is the New York State real estate transfer tax rate?: New York State charges a seller-paid real estate transfer tax of $2.00 per $500 of sale price — a flat 0.40% — and that rate applies at every price point statewide. An additional 0.25% state transfer tax applies only to New York City residential sales of $3 million or more.
Who pays the New York mansion tax?: The buyer pays it, not the seller. The statewide mansion tax is 1% on residential sales of $1 million or more. Inside New York City a progressive supplemental mansion tax applies on top of that, also buyer-paid. Because it is a buyer cost, Sumline does not deduct it from your seller net proceeds — but it still affects what price the market will bear.
What additional fees apply to sales within New York City limits?: Properties sold within NYC owe the NYC Real Property Transfer Tax (RPTT), paid by the seller: 1.0% for residential sales of $500,000 or less, and 1.425% for residential sales above $500,000. NYC residential sales of $3 million or more also add the 0.25% state transfer tax.

Agents: turn this estimate into a client-ready seller proceeds report with your name and brokerage on it.

Listing agents: turn this estimate into a client-ready seller report under your name and brokerage.

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Run a New York seller net sheet during the client conversation

Seller details

Review detailed assumptionsClosing date, local costs, title, escrow, prorations and credits

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New York closing costs at a glance

Transfer tax

Owner's title policy

Recording fees

Commissions

Sources

Understanding Closing Costs & Net Proceeds in New York

Key local custom breakdown

How the New York transfer tax is calculated

Frequently asked questions (New York real estate)

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