Transfer Taxes

Part of closing costs transfer taxes are one-time fees imposed by state or local governments on the transfer of property ownership. Both buyers and sellers in New York City experience transfer taxes.

Buyers have a Mansion Tax when buying a property that is priced at $1,000,000 and over, please take a look at the additional resource provided within the tax section of the resource page.

Transfer Taxes for property sellers in New York State/City experience the following table, below.

Tax laws are always changing please advise with your financial advisor, enrolled agent, or CPA. This is not advise in any form.