Home Selling in 11364>Question Details

Louc, Home Seller in 11364

If I sell my nyc home how much do I pay nyc and nys in transfer taxes

Asked by Louc, 11364 Tue Aug 10, 2010

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Simply put, if your home's selling price is over $500,000 a homeowner pays a total of 1.825% of the selling price in City and State taxes. If it sells for under $500,000 then the amount is 1.4% of the selling price.

The first thing you need to do is to have a current evaluation made of the property's value. As you local Realtor, I would be happy to provide it with no obligation.

Louis Cardenas
Keller Williams Realty Landmark
32-55 Francis Lewis Blvd., Bayside, NY
#1 Office in ALL Queens County as per MLS Statistics
0 votes Thank Flag Link Wed Aug 11, 2010
Lou, Gail was correct about the NYS transfer tax but there is a NYC transfer tax also of 1% for properties under $500,000 and 1.425% for over $500,000. If you have not yet had comparative market analysis done on your property, I would be pleased to perform one for you at no charge and no obligation. Good luck!

Ralph Windschuh
Certified Buyer Representative
Associate Broker
Senior Real Estate Specialist
Century 21 Princeton Properties
Top 2% of Century 21 Agents Nationwide!
0 votes Thank Flag Link Wed Aug 11, 2010
NYS Transfer tax is $4 per $1000 sales price. Transfer tax is a state tax...you will not be paying NYC for this.

Sellers typically pay transfer tax, their attorneys and their Realtors...the buyer has to pay everything else.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Tue Aug 10, 2010
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