| toolbar powered by Conduit |
Home > Taxes > State and Local Taxes > New York State Tax Help and Forms > New York Property Taxes > Real Estate Transfer Tax Index (NY)
Previous
Tweet
Real Estate Transfer Tax Index (NY)
(Visit this site
)
updated
New York State imposes a real estate transfer tax on conveyances of real property or interests therein when the consideration exceeds $500.
Tax rate Tax is computed at a rate of two dollars for each $500, or fractional part thereof, of consideration. An additional real estate transfer tax (sometimes referred to as the "mansion tax") of 1% of the sale price applies to residences where consideration is $1 million or more. Who pays the tax The tax is paid by the grantor (seller). However, if the grantor doesn't pay the tax, or is exempt from the tax, the grantee (buyer) must pay the tax. The additional 1% real estate transfer tax is paid by the grantee. If the grantee is exempt, the grantor must pay the tax.
Hits: 781
Added: Tue Jan 01 2002
Last Modified: Mon Jan 03 2011
