There is a New York State tax, and New York City tax. Any New York State conveyance is taxed at a rate of $2 per $500. or in simpler terms $4 per $1,000. New York City levies an additional transfer tax of 1 percent on sales of less than $500,000. on one to three family dwellings. The tax is 1.425% for sales over $500,000.
Transfer tax on a home that sells over 500k is 1.425%. under 500k is 1%. if we can help you with anything in regards to buying or selling feel free to call us at 718-524-0400.
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