Average Transfer Tax in New York (2026 Data)
Last updated: 2026-04-04
New York transfer tax benchmark
| Range | Low | Typical | High | Flag Above |
|---|---|---|---|---|
| Transfer Tax | $0.00/thousand | $2.00/thousand | $10.00/thousand | $15.00/thousand |
Based on New York closing cost data. Median home price: $460,000. Rates shown per $1,000 of coverage or sale price.
What the transfer tax covers
Transfer taxes (also called deed stamps, documentary stamps, or excise taxes) are taxes imposed by state, county, or city governments when real property changes hands. The tax is typically calculated as a rate per thousand dollars of the sale price. Transfer taxes appear in Section E of your Closing Disclosure.
Transfer tax rules vary enormously by state. About 13 states impose no transfer tax at all (including Texas, Indiana, and Wyoming). Others charge modest rates ($1 to $3 per thousand). A few states and cities have very high rates — New York City's combined transfer taxes can exceed 2% of the sale price.
This fee appears in Section E — Taxes and Other Government Fees of your Closing Disclosure.
Is the transfer tax negotiable in New York?
Transfer taxes in New York are set by law and non-negotiable. They are customarily paid by the split. Who pays can be renegotiated in the purchase contract.
New York note
NY State transfer tax (Tax Law § 1402): $2.00 per $500 ($4.00 per $1,000, 0.4%) on all conveyances over $500 — applies statewide. NYC surcharge (effective July 1, 2019): additional $1.25 per $500 (0.25%) on NYC residential property conveyed for $3,000,000 or more, making the combined NYS rate $6.50 per $1,000 (0.65%) for those sales. NYC Real Property Transfer Tax (RPTT) — residential (1–3 family, condos, co-ops): 1.0% for sales up to $500,000; 1.425% for sales over $500,000. Note: the 2.625% RPTT rate applies only to commercial/other property over $500K, NOT to residential. NYC mansion tax (buyer pays): 1.0% on purchases $1,000,000–$1,999,999; 1.25% on $2,000,000–$2,999,999; 1.50% on $3,000,000–$4,999,999; 2.25% on $5,000,000–$9,999,999; 3.25% on $10,000,000–$14,999,999; 3.50% on $15,000,000–$19,999,999; 3.75% on $20,000,000–$24,999,999; 3.90% on $25,000,000+. Mansion tax applies to the full purchase price once a threshold is crossed (not marginal). NYC mortgage recording tax (MRT): gross rate 2.05% on mortgages under $500,000; 2.175% on residential mortgages $500,000+ (lender pays 0.25% of MRT, so effective buyer cost is 1.80% under $500K and 1.925% at $500K+). Outside NYC, MRT typically 1.0%–1.3% depending on county. In NYC: NYS transfer tax and RPTT traditionally paid by the seller (buyer pays in new development/sponsor sales by contract convention). Mansion tax paid by the buyer. MRT paid by the buyer. The mansion tax is not marginal — crossing a threshold costs the full percentage on the entire price, not just the excess. Co-ops are exempt from MRT (share loans are not mortgages on real property). Outside NYC: NYS transfer tax ($4.00/K, 0.4%) typically paid by seller; no county-level transfer taxes exist outside NYC.
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Red flags: signs your transfer tax is inflated
Transfer tax rate doesn't match the published state or county rate for your jurisdiction
Transfer tax charged in a state that has no transfer tax
Buyer is being charged a transfer tax that is customarily paid by the seller in that state
City or county transfer tax is missing when the jurisdiction imposes one
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Transfer Tax questions
Does every state have a transfer tax?
No. About 13 states have no transfer tax at any level — including Texas, Indiana, Wyoming, Montana, Idaho, Mississippi, Missouri, New Mexico, North Dakota, Utah, Alaska, Louisiana, and Oregon.
Who pays the transfer tax — buyer or seller?
It depends on the state and the contract. In many states, the seller customarily pays. In others, it's the buyer or split. The purchase contract can override local custom, so check your agreement.
Can transfer taxes be negotiated?
The tax rate itself cannot be negotiated — it's set by law. But who pays it can be negotiated in the purchase contract. Some buyers successfully negotiate for the seller to cover transfer taxes as a concession.
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