New York stacks more government charges on a home purchase than almost any other state. This calculator uses New York State and New York City's actual current statutory rates — not a national average — so the number you see here is built from the same law your closing attorney will cite.
Government taxes only — excludes title insurance, attorney fees, lender fees, escrow, and recording fees.
These are statutory default allocations, not guarantees — purchase contracts can and do reallocate who actually pays each line item. See sources below.
Ordinary residential deed transfer, no exemptions, no CEMA, no co-op financing, no confirmed one-/two-family deduction.
| NYS base transfer tax (0.40% of $500,000) | $2,000 |
| NYS mansion tax (not triggered — price under $1,000,000) | $0 |
| NYC Real Property Transfer Tax (1.00% at ≤$500,000) | $5,000 |
| NYC mortgage recording tax component (1.00% of $400,000) | $4,000 |
| NYS basic mortgage tax (0.50% of $400,000) | $2,000 |
| NYS special additional mortgage tax (0.25% of $400,000) | $1,000 |
| MCTD additional mortgage tax (0.30% of $400,000) | $1,200 |
| Total government taxes remitted | $15,200 |
This is the total remitted to government — it is not a buyer-only cash-to-close figure. The NYS base transfer tax and NYC RPTT are generally seller/grantor obligations under the governing statutes (subject to contractual allocation and statutory backup liability); the mansion tax and any NYC supplemental tax are buyer obligations. The special additional mortgage tax (0.25%) has its own statutory mortgagee-payment rule on certain residential loans under Tax Law §253(1-a). Recording fees (typically $80–$100+ for a standard deed and mortgage in the ACRIS boroughs) are separate and excluded here. Sources: NYS Form TP-584-NYC-I, Form MT-15, NY Tax Law §253, NYC Administrative Code §§11-2102 and 11-2104.
Most states charge at most one government transfer tax on a home sale, and some charge none at all. New York can stack up to five separate government charges on the same transaction: the statewide 0.40% base transfer tax, the statewide 1% mansion tax on residential purchases of $1,000,000 or more, New York City's own Real Property Transfer Tax on top of the state tax (inside the five boroughs only), an additional NYC-only state transfer tax layer on very high-value NYC transactions ($2M+), and a mortgage recording tax with both statewide and (inside NYC) city-specific components. None of this is a "New York is expensive" estimate — it's the direct sum of statutes that don't exist, or exist at lower rates, in most other states.
Despite the name, New York's 1% "mansion tax" isn't limited to luxury property — it applies to any residential purchase at $1,000,000 or more, anywhere in the state, not just New York City. And it isn't marginal: once the price crosses $1,000,000, the full 1% applies to the entire purchase price, not just the amount above $1,000,000. In New York City, transactions above $2,000,000 face additional supplemental state tax brackets on top of the base mansion tax, climbing as high as 2.9% for transactions of $25,000,000 or more.
Two things about New York closing costs vary too much by county or transaction structure to responsibly reduce to one number, so this calculator flags them instead of guessing: county recording fees outside the four ACRIS boroughs (Manhattan, Brooklyn, Queens, the Bronx) don't have one statewide figure — each county recorder sets its own schedule (for example, Allegany County charges $45 plus $3/page for a mortgage, while Sullivan County charges $45 plus $5/page — two real, different, nearby counties). We also don't claim that an attorney is legally required to attend every New York closing — we couldn't verify that as an absolute rule covering every transaction, so we don't state it as one; New York's Department of State instead documents restrictions on nonlawyers giving legal advice or preparing real-estate legal instruments for compensation.
On co-op purchases, this calculator states the general default rule rather than only hedging: a standard co-op share loan is typically documented as a UCC financing statement against personal property (shares in the co-op corporation), not a mortgage against real property — so the real-property mortgage recording tax on this page ordinarily does not apply. NYC Real Property Transfer Tax still applies to a co-op transfer. Unusual financing structures can change this, so confirm with your closing attorney if your transaction doesn't fit the standard pattern.