New York Real Estate Transfer Tax Calculator

How this calculator works

New York stacks up to four distinct transfer taxes on a single real-estate transaction. On a high-end Manhattan residential sale the combined transfer-tax bill routinely runs north of $100,000 — more than the combined attorney fees, title insurance, and recording charges on the same closing, by a comfortable margin. It is also the single most under-modeled line item in the "closing cost calculators" that show up in real-estate listings and lender pre-quotes elsewhere on the web, which is why we built this one statute-first.

This calculator models all four layers and surfaces the customary seller / buyer allocation so each side of the transaction knows their exposure before signing the contract:

1. State RPT — NY Tax Law § 1402, statewide, $2 per $500 (= 0.4%).
2. State Mansion Tax — NY Tax Law § 1402-a, residential $1M+, progressive 1.0% to 3.9%.
3. NYC RPTT — NYC Admin. Code § 11-2102, five boroughs only, 1.0%-2.625% by class and threshold.
4. NYC Additional Tax — NYC Admin. Code § 11-2102.1, NYC residential $2M+, flat 0.25%.

Layer 1 — State RPT (§ 1402)

The State Real Property Transfer Tax under NY Tax Law § 1402 applies to every transfer of New York real property, statewide. No exemptions for residential vs commercial. No threshold below which it does not apply. The rate is $2 per $500 of consideration — equivalent to 0.4% of the sale price.

The State RPT is intentionally light. Other states have a single transfer tax of 1%-2% as a flat rate on every conveyance; New York chose to set the State levy low (0.4%) and layer the heavier taxes on top — the Mansion Tax for high-value residential, the NYC RPTT for property inside the five boroughs. The result is a graduated, class-sensitive, location-sensitive tax that hits modest sales lightly and high-end Manhattan sales hard.

Customarily the SELLER pays the State RPT, though the purchase contract can reallocate.

Layer 2 — State Mansion Tax (§ 1402-a)

The State Mansion Tax under NY Tax Law § 1402-a applies only to residential transfers where the consideration is $1,000,000 or more. Originally enacted in 1989 as a flat 1% (the original "millionaire's tax"), it was restructured into a progressive eight-tier schedule in 2019:

| Sale price | Mansion Tax rate | |---|---| | $1M – $1.99M | 1.00% | | $2M – $2.99M | 1.25% | | $3M – $4.99M | 1.50% | | $5M – $9.99M | 2.25% | | $10M – $14.99M | 3.25% | | $15M – $19.99M | 3.50% | | $20M – $24.99M | 3.75% | | $25M+ | 3.90% |

Critical mechanic — applied flat, not marginally. This is the single most common modeling error on NYC closing-cost estimates. The bracket determines which rate applies, but the rate then applies to the whole sale price — not progressively bracket-by-bracket. A $3,000,001 sale pays 1.5% on the entire amount ($45,000), not 1.0% on the first $2.99M and 1.5% on the marginal dollar.

The cliff effect at each bracket boundary is real and intentional. A $2,999,999 sale pays $37,499.99 in Mansion Tax (1.25%). A $3,000,000 sale pays $45,000 (1.5%). The marginal dollar costs $7,500.01. Sophisticated buyers and sellers at bracket boundaries sometimes negotiate the price down just below the threshold to lock in the lower rate — particularly at the $1M ($0 if below), $2M ($25K bump), $5M ($37.5K bump), and $10M ($50K bump) thresholds.

Customarily the BUYER pays the Mansion Tax. This is the major buyer-side closing-cost line in the NYC residential market — typically larger than attorney fees, title insurance, and recording charges combined.

Layer 3 — NYC RPTT (NYC Admin. Code § 11-2102)

The NYC Real Property Transfer Tax under NYC Admin. Code § 11-2102 applies only to transfers of property within the five boroughs — Manhattan, Brooklyn, Queens, the Bronx, and Staten Island. It stacks on top of the State RPT (which still applies inside NYC).

Rate schedule, by class and threshold, all applied flat to the whole sale price:

| Class | Threshold | Rate | |---|---|---| | Residential | ≤ $500,000 | 1.000% | | Residential | > $500,000 | 1.425% | | Commercial / mixed-use | ≤ $500,000 | 1.425% | | Commercial / mixed-use | > $500,000 | 2.625% |

Residential for NYC RPTT purposes means a 1-3 family house, an individual condo unit, or an individual cooperative apartment. Mixed-use buildings (e.g., a brownstone with retail on the ground floor) and multi-family buildings of 4+ units fall into the commercial / mixed bucket and pay the higher rate.

Customarily the SELLER pays the NYC RPTT. On a typical $1.5M Manhattan condo sale, the NYC RPTT is $21,375 — already larger than the State RPT and the Mansion Tax combined on the same transaction.

Layer 4 — NYC Additional Tax (NYC Admin. Code § 11-2102.1)

NYC Administrative Code § 11-2102.1 — added in 2019 in parallel with the State Mansion Tax restructuring — imposes a flat 0.25% Additional Tax on residential transfers in NYC of $2,000,000 or more. It functions as a mini-NYC mansion tax sitting on top of the existing NYC RPTT.

The Additional Tax does not apply to commercial transfers, no matter how large. A $50M Manhattan office building pays $0 of NYC Additional Tax. A $2M Brooklyn brownstone (1-3 family residential) pays $5,000.

Customarily the BUYER pays the NYC Additional Tax. It was enacted alongside the State Mansion Tax restructuring as part of a coordinated City + State push to raise transfer-tax revenue on high-end NYC residential property.

Worked example — $750,000 Westchester home

A $750,000 single-family home in Yonkers (outside NYC). Buyer is an individual.

• State RPT (0.4%): $750,000 × 0.004 = $3,000 (seller).
• State Mansion Tax: Not triggered — below $1M threshold.
• NYC RPTT: Not applicable — outside the 5 boroughs.
• NYC Additional Tax: Not applicable.
• TOTAL: $3,000 (all on the seller side).
• Effective rate: 0.4%.

The State RPT is the only layer that applies. Westchester real-estate closings outside NYC are dramatically less transfer-tax-heavy than NYC closings — a major reason buyers at the $750K-$1.5M price band frequently weigh suburban Westchester vs Manhattan-condo alternatives.

Worked example — $1,500,000 Buffalo home

A $1,500,000 single-family home in Buffalo (upstate, outside NYC).

• State RPT (0.4%): $1,500,000 × 0.004 = $6,000 (seller).
• State Mansion Tax: Residential ≥ $1M → 1.0% bracket (between $1M-$1.99M). $1,500,000 × 0.010 = $15,000 (buyer).
• NYC RPTT: Not applicable.
• NYC Additional Tax: Not applicable.
• TOTAL: $21,000 (seller $6,000; buyer $15,000).
• Effective rate: 1.4%.

The Mansion Tax applies anywhere in New York for residential sales ≥ $1M, not just NYC. A high-end Buffalo or Albany home triggers the same Mansion Tax as a Manhattan condo at the same price. Many upstate sellers (and their attorneys) miss this — the calculator surfaces it explicitly.

Worked example — $3,000,000 Manhattan condo

The classic four-layer NYC residential stack. $3M Manhattan condo, individual buyer.

• State RPT (0.4%): $3,000,000 × 0.004 = $12,000 (seller).
• State Mansion Tax: Residential ≥ $3M → 1.5% bracket. $3,000,000 × 0.015 = $45,000 (buyer).
• NYC RPTT: Residential > $500K → 1.425%. $3,000,000 × 0.01425 = $42,750 (seller).
• NYC Additional Tax: Residential ≥ $2M in NYC → 0.25%. $3,000,000 × 0.0025 = $7,500 (buyer).
• TOTAL: $107,250.
• Seller customary share: $12,000 + $42,750 = $54,750.
• Buyer customary share: $45,000 + $7,500 = $52,500.
• Effective rate: ~3.58%.

That $107,250 is the single largest line item on the closing statement, by far. On a $3M Manhattan condo a buyer can expect total closing costs of $120,000-$170,000 (4%-5.5% of purchase price), with the four transfer-tax layers accounting for ~$52,500 of that.

Worked example — $10,000,000 Manhattan penthouse

The Mansion Tax bracket changes radically at $10M. Same individual buyer, same Manhattan location, residential.

• State RPT (0.4%): $10,000,000 × 0.004 = $40,000 (seller).
• State Mansion Tax: Residential ≥ $10M → 3.25% bracket. $10,000,000 × 0.0325 = $325,000 (buyer).
• NYC RPTT: Residential > $500K → 1.425%. $10,000,000 × 0.01425 = $142,500 (seller).
• NYC Additional Tax: Residential ≥ $2M → 0.25%. $10,000,000 × 0.0025 = $25,000 (buyer).
• TOTAL: $532,500.
• Seller share: $182,500. Buyer share: $350,000.
• Effective rate: 5.325%.

The Mansion Tax alone ($325K) is more than the combined State RPT + NYC RPTT + NYC Additional ($207.5K). At the high end the Mansion Tax is the dominant layer, and at the $10M+ bracket boundary the cliff effect is severe — a $9,999,999 sale pays $224,975 in Mansion (2.25%) vs $325,000 at $10,000,000 (3.25%). The $1 marginal dollar costs $100,025.

Worked example — $5,000,000 Manhattan office (commercial)

Commercial transfer changes the math dramatically. $5M Manhattan office building, commercial buyer.

• State RPT (0.4%): $5,000,000 × 0.004 = $20,000 (seller).
• State Mansion Tax: Commercial → $0. The Mansion Tax is residential-only.
• NYC RPTT: Commercial > $500K → 2.625%. $5,000,000 × 0.02625 = $131,250 (seller).
• NYC Additional Tax: Commercial → $0. The Additional Tax is residential-only.
• TOTAL: $151,250.
• Effective rate: 3.025%.

Commercial transfers in NYC are taxed only at two layers — State RPT + NYC RPTT — but the NYC RPTT commercial rate (2.625%) is much higher than residential (1.425%). The total transfer tax on a $5M NYC commercial property ($151,250) is comparable to a $4M-$5M NYC residential transaction. The customary allocation also shifts: with no Mansion Tax and no Additional Tax, the entire transfer-tax bill falls on the seller in commercial sales.

The customary allocation — and when it flips

The customary allocation in NYC residential closings:

• Seller pays State RPT (§ 1402) + NYC RPTT (§ 11-2102).
• Buyer pays State Mansion Tax (§ 1402-a) + NYC Additional Tax (§ 11-2102.1).

The split is custom, not statute — the purchase contract can reallocate. Two scenarios where the convention routinely flips:

1. Sponsor sales of new-construction units. Sponsors (the developer / first owner of a new-construction condo or co-op building) customarily require the buyer to pay the sponsor's customary share of transfer taxes in addition to the buyer's own share. On a $3M sponsor sale, the buyer pays the full $107,250 of transfer tax rather than just the customary $52,500 buyer share. This is one of the most-negotiated items in a sponsor unit purchase and is laid out in the offering plan.

2. Distressed seller / market dynamics. In soft markets where buyers have leverage, sellers sometimes agree to pick up the customary buyer share to close the deal. The reverse (buyers picking up the seller share) shows up in hot markets, particularly bidding-war scenarios on Brooklyn brownstones and Manhattan trophy properties.

The § 1409 LLC disclosure (2019 reform)

NY Tax Law § 1409 — significantly strengthened by 2019 reform — requires LLC purchasers of residential property to disclose all members of the LLC on Form TP-584 and NYC Form NYC-RPT. The disclosure traces through any member-LLCs to the natural-person level. The county clerk will not record the deed until the disclosure is complete.

The 2019 reform was a transparency response to anonymous LLC ownership of high-end NYC residential property. Before 2019, a foreign LLC could acquire a $20M Manhattan penthouse with no public record of who actually owned it. The disclosure does not add any dollar tax — it is a paperwork requirement — but it can delay closing by days if the LLC's organizational structure is complex (e.g., a foreign LLC with multiple layers of foreign LLC members). Single-member LLCs (a common structure for individual privacy purchases) disclose one person; multi-member LLCs disclose every member.

Cooperative apartment transfers

Cooperative apartments are taxed under the New York transfer-tax regime even though the transfer is technically of shares and a proprietary lease, not a deed. NY Tax Law § 1401(e) treats shares in a cooperative housing corporation as real property for transfer-tax purposes. All four layers apply identically. The mechanics differ slightly: there is no recorded deed and no county-clerk recording step, but Form TP-584 and Form NYC-RPT must still be filed with the State and City respectively, and the cooperative corporation will not approve the transfer until the transfer taxes are paid.

A $2M Park Avenue co-op sale produces the same $77,000 of total transfer tax as a $2M condo sale on the same block (State RPT $8K + Mansion $25K + NYC RPTT $28.5K + NYC Additional $5K).

Form TP-584 filing

Form TP-584 (the combined State Real Estate Transfer Tax Return) must be filed within 15 days of the conveyance. For NYC property, Form NYC-RPT (the NYC Real Property Transfer Tax Return) must be filed within 30 days. In practice, both returns are filed and the tax paid at closing as a closing-table line item, because the county clerk will not record the deed until the State and City returns are filed and paid.

Late filing penalties under NY Tax Law § 1416: 5% per month up to 25% of the unpaid tax, plus interest. The penalties are not waived for closings that drag past the deadline due to title-clearance delays — the filing is the closing agent's responsibility.

Common errors

Five mistakes turn up routinely in New York transfer-tax math:

1. Treating the Mansion Tax as marginal. It is NOT progressive within tiers. The bracket-rate applies to the whole sale price. A $3,000,001 sale pays 1.5% on the whole thing, not 1.5% on the marginal dollar above $3M. The cliff effect at each bracket boundary is real and frequently determinative in price negotiations.

2. Assuming the Mansion Tax is NYC-only. It applies anywhere in New York State on residential sales ≥ $1M — Buffalo, Albany, Westchester, the Hamptons. The headline media coverage focuses on NYC, but a $1.5M Long Island home pays the same $15,000 Mansion Tax as a $1.5M Manhattan condo.

3. Missing the NYC Additional Tax (§ 11-2102.1). Added in 2019, it is the newest layer and frequently missed by closing-cost estimators that haven't been updated since 2018. A $3M Manhattan condo pays $7,500 in Additional Tax — small relative to the other layers but still a real number.

4. Misallocating between buyer and seller. The customary split (seller pays State RPT + NYC RPTT; buyer pays Mansion + NYC Additional) is not statutory. The contract controls. Sponsor sales routinely flip the convention; soft-market negotiations sometimes do too. Confirm the allocation in writing before closing.

5. Forgetting that commercial gets no Mansion Tax but a higher NYC RPTT. Commercial buyers sometimes assume the Mansion Tax applies to their $5M office purchase — it does not. But the NYC RPTT commercial rate of 2.625% is much higher than the residential 1.425%, so commercial transfer tax can rival or exceed residential at comparable prices.

What this calculator does not do

This is a planning and screening tool. It does not:

• Substitute for the TP-584 / NYC-RPT filing. Form TP-584 must be filed within 15 days; Form NYC-RPT within 30. Use this calculator to model the closing, but the actual filing must be done through the closing agent.
• Handle entity-to-entity transfers under § 1405(b)(6). Transfers between commonly-owned entities can sometimes qualify for the "mere change in identity" exemption from State RPT. The exemption is fact-specific and frequently contested — consult a NY-licensed tax attorney.
• Model special exemptions. Certain governmental, charitable, and family-transfer exemptions apply under NY Tax Law § 1405. The calculator does not enumerate them.
• Compute related closing costs. Attorney fees, title insurance, recording fees, mortgage tax (a separate beast under NY Tax Law § 253), and NYC condo / co-op move-in / move-out fees are not included.
• Apply to transfers outside New York. If the property is in Connecticut, New Jersey, or any other state, this calculator does not apply.

How this page is maintained

New York transfer tax has been amended substantially in recent years — the Mansion Tax was restructured to its current eight-tier schedule in 2019, the NYC Additional Tax was added in 2019, and the § 1409 LLC disclosure was strengthened in 2019. We monitor New York Department of Taxation and Finance notices, NYC Department of Finance bulletins, and Tax Law / NYC Admin. Code amendments each session and refresh the calculator within 30 days of any enacted change. The 2019 bracket schedule has been stable; any change would be reflected here promptly.

Last reviewed: 2026-05-15 against NY Tax Law § 1402, § 1402-a, § 1409 and NYC Administrative Code § 11-2102, § 11-2102.1.