New York State Transfer Tax. Real estate transfer tax transfer tax is generally imposed on every conveyance of new york state real property or interest therein when the consideration exceeds 500. You must also pay rptt for the sale or transfer of at least 50 of ownership in a corporation partnership trust or other entity that ownsleases property and transfers of cooperative housing stock shares.
Outside of nyc a statewide transfer tax applies. The ny state transfer tax rate is 04 for properties that sell for less than 3000000 with an additional 025 for properties that sell for 3000000. The new york state transfer tax is 04 for sales below 3 million and 065 for sales of 3 million or more.
The higher rate of 065 kicks in at a lower threshold of 2 million for commercial transactions and residential properties with 4 or more units.
Additionally in 2019. Outside of nyc a statewide transfer tax applies. The nys tax in general the nys real estate transfer tax rett applies to the conveyance v of real property or of an interest in real property when the consideration for the transfer exceeds 500. The tax is assessed at a graduated rate ranging from 1 to 2625 depending on the classification of the property conveyed and the total consideration paid.