Built from the statute and cross-checked against what the revenue department currently applies.
Verified September 21, 2026 · statute and revenue department cross-checked
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Who pays
Seller pays the base tax. The buyer pays the mansion tax.
What to know about New York
New York City is where this gets expensive. A $3 million Manhattan apartment carries the city transfer tax, the state base tax, the 1 percent mansion tax, a supplemental tax and an extra state charge, all at once. The mansion tax and its NYC supplement apply to the entire price, so buying at $1,000,001 instead of $999,999 costs an extra $10,000.
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Sources
Statute: NY Tax Law § 1402, 1402-a; NYC Admin. Code Title 11, Ch. 21
New York State Department of Taxation and Finance “Tax is computed at a rate of two dollars for each $500, or fractional part thereof, of consideration. An additional tax (mansion tax) of 1% of the sale price applies to residences where consideration is $1 million or more.”
Instructions for Form TP-584-NYC (8/25) “At least $2,000,000 but less than $3,000,000 One-quarter of one percent (.25%) ... At least $25,000,000 (2.9%) ... The additional tax and supplemental tax are paid by the grantee”
Last verified: September 21, 2026.
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Estimates only. Your closing agent or the county recorder issues the final figure, and exemptions can change what you owe. This page does not collect or store anything you enter.