800 Westchester Avenue
Suite S-434
Rye Brook, New York 10573
Phone: 914-644-6100
Fax: 914-644-6159

NYC Tax Guide

City of New York Transfer and Mortgage Tax Guide
(As of January 1, 2006)
Property Type And Transaction Value NYC RPT New York State Documentary Stamps "Mansion Tax" MTGE Tax (NYC) (Except Co-Op)
1-2-3 Family Residential, Co-Op or Condo Unit less than $500,000.00 1% of conveyance price $2 per $500 of conveyance price N/A 2.05% minus $30 for 1-2 family
1-2-3 Family Residential, Co-Op or Condo Unit exactly $500,000.00 1% of conveyance price $2 per $500 of conveyance price N/A 2.175% minus $30 for 1-2 family
1-2-3 Family Residential, Co-Op or Condo Unit above $500,000 to $999,999 1.425% $2 per $500 N/A 2.175% minus $30 for 1-2 family
1-2-3 Family Residential, Co-Op or Condo Unit $1,000,000 or more 1.425% $2 per $500 1% or sales price payable by grantee (Grantor pays if grantee is exempt) 2.175% minus $30 for 1-2 family
All others up to $500,000 1.425% $2 per $500 N/A 2.05%
All others exactly $500,000 1.425% $2 per $500 N/A 2.8%
All others above $500,000 2.625% $2 per $500 N/A 2.8%
Payment due date (delivery date is presumed to be date shown on instrument) 30 days after delivery 15 days after delivery 15 days after delivery Upon recording
Penalty for late payment 5% per month, (up to 25%) plus interest 10% penalty plus 2% interest penalty (up to 25%) plus interest same as for deed stamps N/A
The information provided is believed to be accurate, but is not guaranteed. While care has been taken in preparation of this document, warranty or representation of accuracy is not made. This chart is for reference only.