New York and NYC Transfer Tax Calculator, with the Mansion Tax
Figures verified November 12, 2026 against NY Department of Taxation, real estate transfer tax · Update log
Short answer
New York's real estate transfer tax is $2 per $500 (0.4%) + 1% mansion tax at $1 million; NYC adds 1% to 2.625%. The seller pays the state transfer tax (and, in New York City, the city's real property transfer tax). The buyer pays the 1% mansion tax on homes of $1 million or more and, in the city, the supplemental mansion tax from $2 million. On a $500,000 home in New York City, it comes to about $7,000. An executor's deed handing an inherited house to an heir owes none.
Free calculator
New York transfer tax calculator
Enter the sale price to see each tax, who pays it, and the total. Amounts like 650k or 2.5m work.
New York, New York City
Transfer tax: $7,000 (1.4% of the price)
- State transfer taxSeller$2,000
- NYC real property transfer taxSeller. 1% up to $500,000, 1.425% above, on the whole price.$5,000
- Seller pays
- $7,000
- Buyer pays
- $0
Giving the house to an heir instead of selling it? The executor's deed to an heir is exempt here. How it works in New York
An estimate from the rates on our New York page. The title company or closing attorney works out the final figure; recording fees and the agent's commission aren't included.
New York transfer tax rates
| Tax | Rate | Who pays |
|---|---|---|
| State transfer tax | $2 per $500 (0.4%) | Seller |
| Mansion taxFor homes | 1% from $1,000,000 (on the whole price) | Buyer |
| Tax | Rate | Who pays |
|---|---|---|
| NYC real property transfer taxFor homes | 1% over $25,000; 1.425% over $500,000 (on the whole price) | Seller |
| NYC real property transfer taxFor land and commercial property | 1.425% over $25,000; 2.625% over $500,000 (on the whole price) | Seller |
| State additional base tax (NYC)For homes | 0.25% from $3,000,000 (on the whole price) | Seller |
| State additional base tax (NYC)For land and commercial property | 0.25% from $2,000,000 (on the whole price) | Seller |
| Supplemental mansion taxFor homes | 0.25% from $2,000,000; 0.5% from $3,000,000; 1.25% from $5,000,000; 2.25% from $10,000,000; 2.5% from $15,000,000; 2.75% from $20,000,000; 2.9% from $25,000,000 (on the whole price) | Buyer |
Who pays the transfer tax in New York?
The seller pays the state transfer tax (and, in New York City, the city's real property transfer tax). The buyer pays the 1% mansion tax on homes of $1 million or more and, in the city, the supplemental mansion tax from $2 million.
Whatever the custom, the purchase contract can shift the tax to the other side, so check it before you agree a price. The closing agent collects the tax from the sale money and pays it when the deed is recorded.
Selling an inherited house in New York
An inherited house reaches the heirs in one of three ways, and the transfer tax depends on which:
- The executor deeds the house to the heirs. A devise, bequest or inheritance isn't a taxable conveyance in New York, so the executor's deed handing the house to an heir owes no state transfer tax. In New York City, an executor's deed under a will is exempt from the city tax too, but still has to be reported on ACRIS.
- The house passes outside probate, to a surviving joint owner or under a transfer-on-death deed. There is no sale and no new deed from the estate, so no transfer tax; the new owner records a death certificate or affidavit.
- The executor sells the house. When the estate sells, the seller files Form TP-584 (TP-584-NYC in the city) with the county clerk. An estate of someone who lived in New York doesn't owe the estimated income tax payment at closing; a nonresident estate files Form IT-2663 and pays it.
The heirs or the estate also owe income tax only on any rise in value after the death, because the house gets a stepped-up basis. The seller's transfer tax counts as a selling expense and lowers that gain. See what's left for each heir in the inherited house net proceeds calculator.
New York also has an estate tax on large estates, separate from the transfer tax. See New York estate tax.
New York mansion tax
The buyer pays 1% on a home of $1 million or more. In New York City, a supplemental tax takes the buyer's total to 1.25% at $2 million, rising to 3.9% at $25 million, and the seller pays another 0.25% from $3 million.
Compare it with the other high-end rates, from New York City to Los Angeles and San Francisco, in the mansion tax calculator.
Forms, deadline and other rules
- Form: TP-584 (TP-584-NYC in New York City); NYC RPTT return via ACRIS. See how to fill out Form TP-584.
- When it's paid: The 15th day after the deed is delivered (state); 30 days after delivery (NYC RPTT).
- Use the June 2025 versions, TP-584 (6/25) and TP-584-NYC (6/25). Title insurers report that county clerks and ACRIS reject older versions for deeds presented from March 1, 2026.
Optional: get help filing
Get a flat-fee quote for the estate's tax returns
The final Form 1040, the estate's Form 1041 and any state return are the parts executors most often hand off. Leave your email and the rough estate size, and a CPA or Enrolled Agent who prepares estate returns will reply with a fixed price. Free, and no obligation.
Transfer taxes in other states
Alabama · Alaska · Arizona · Arkansas · California · Colorado · Connecticut · Delaware · District of Columbia · Florida · Georgia · Hawaii · Idaho · Illinois · Indiana · Iowa · Kansas · Kentucky · Louisiana · Maine · Maryland · Massachusetts · Michigan · Minnesota · Mississippi · Missouri · Montana · Nebraska · Nevada · New Hampshire · New Jersey · New Mexico · North Carolina · North Dakota · Ohio · Oklahoma · Oregon · Pennsylvania · Rhode Island · South Carolina · South Dakota · Tennessee · Texas · Utah · Vermont · Virginia · Washington · West Virginia · Wisconsin · Wyoming
Or compare them all in the 50-state table.
Frequently asked questions
How much is the transfer tax in New York?
Real estate transfer tax: $2 per $500 (0.4%) + 1% mansion tax at $1 million; NYC adds 1% to 2.625%. On a $500,000 home in New York City, that comes to about $7,000 in total.
Who pays the transfer tax in New York, the buyer or the seller?
The seller pays the state transfer tax (and, in New York City, the city's real property transfer tax). The buyer pays the 1% mansion tax on homes of $1 million or more and, in the city, the supplemental mansion tax from $2 million.
Do you pay transfer tax when you inherit a house in New York?
A devise, bequest or inheritance isn't a taxable conveyance in New York, so the executor's deed handing the house to an heir owes no state transfer tax. In New York City, an executor's deed under a will is exempt from the city tax too, but still has to be reported on ACRIS.
Does an estate pay transfer tax when it sells a house in New York?
When the estate sells, the seller files Form TP-584 (TP-584-NYC in the city) with the county clerk. An estate of someone who lived in New York doesn't owe the estimated income tax payment at closing; a nonresident estate files Form IT-2663 and pays it.
Does New York have a mansion tax?
The buyer pays 1% on a home of $1 million or more. In New York City, a supplemental tax takes the buyer's total to 1.25% at $2 million, rising to 3.9% at $25 million, and the seller pays another 0.25% from $3 million.
Is transfer tax deductible?
Not as a tax deduction, but the seller's share counts as a selling expense: it lowers the amount realized, and so the taxable gain on the sale. The buyer's share is added to the buyer's cost basis.
Sources
This information is provided for educational purposes only and should not be considered legal or tax advice. Consult a qualified tax professional for guidance specific to your situation.