Ny Transfer Tax. Not the department of finance. The new york city transfer tax goes from 1 to 1425 when over 500000.
The nyc transfer tax is a seller closing cost of 1 for sales below 500k and 1425 for sales of 500k or more. The transfer tax is based on the purchase price of the property. 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.
Price paid can include cancellation or discharge of an indebtedness or obligation.
Higher rates apply for commercial transactions and multifamily properties with 4 or more units. The tax is 2 for each 500. Real estate transfer and mortgage recording tax forms. The nys transfer tax is 04 for properties below 3000000 and 065 for those 3000000 and up.