NY & NJ Closing Costs & Title Calculator — Avrum C. Lebrecht

New York: where the numbers come from

Rates as of Oct 2026. Estimates only: verify with your attorney and title company before you rely on them.

• NYS transfer tax: $2 per $500 of price (0.4%), customarily paid by the seller. In NYC it is 0.65% on residential sales of $3M+ and other property at $2M+. NYS Dept. of Taxation & Finance.
• Mansion tax: paid by the buyer on a 1–3 family house, condo or co-op unit at $1,000,000 or more. Outside NYC it's a flat 1%. In NYC it is graduated: 1% to $2M, then 1.25%, 1.5% ($3M+), 2.25% ($5M+), 3.25% ($10M+), 3.5% ($15M+), 3.75% ($20M+) and 3.9% ($25M+). Form TP-584-NYC instructions.
• NYC transfer tax (RPTT): 1–3 family, condo and co-op: 1% up to $500,000, 1.425% above. Other property: 1.425%, or 2.625% above $500,000. NYC Dept. of Finance.
• Mortgage recording tax: rate for each county and city from the state's Form MT-15 (1/25). It runs 0.75%–1.30% outside NYC: 1.30% in Westchester and Rockland, 1.80% in Yonkers, 1.05% in Nassau, Suffolk, Dutchess, Orange and Putnam, 1.25% in Albany, 1.00% in Erie and Monroe. In NYC it is 2.05%, or 2.175% on 1–3 family/condo loans of $500,000+ (2.80% on other property). On a 1–2 family home the first $10,000 is exempt from the additional tax (a $25 or $30 credit). On 1–6 family homes the lender pays the 0.25% special additional tax. Co-op loans aren't mortgages, so there is no mortgage tax. Form MT-15, NYS Tax.
• Local transfer taxes (from each city, town or county code):
  • Yonkers: 1.5% of the full price when it's over $25,000, seller pays (city code).
  • Mount Vernon: 1.5% on the price above $50,000, seller pays (city code, amended 12/2024).
  • Peekskill: 1%, seller pays (city code).
  • Tompkins County: $1 per $500 (0.2%), seller pays (county code).
  • Peconic Bay towns, buyer pays: East Hampton, Southampton and Shelter Island charge 2.5% on the price above $400,000 ($100,000 for vacant land). Southold charges 2.5% above $200,000 ($75,000 for land). Riverhead charges 2% above $150,000 ($75,000 for land). The exemption is for residential property only and drops away above $2M, except in Riverhead (Suffolk County Clerk form, rev. 12/2023).
  • Hudson Valley preservation-fund taxes, buyer pays on the price above the county median: Red Hook 2% (over $475,000), City of Kingston and Gardiner 1.25%, New Paltz 1.5%, Marbletown and Rochester 1% (Ulster median $437,000), Chatham 1.5% (Columbia median, about $485,000, not confirmed), Warwick 0.75% over $100,000 ($50,000 for land). Sources: the Ulster and Dutchess county clerks' transfer tax forms, the Warwick town code and the Town of Chatham.
• Title insurance: base premiums from the TIRSA Title Insurance Rate Manual, 7th revision (effective Oct 1, 2024). Zone 2 covers NYC, Long Island, Westchester, Rockland, Putnam, Dutchess, Orange, Ulster, Sullivan, Columbia, Greene, Albany and Rensselaer. Zone 1 is the rest of the state; its rates exclude the title search, which is billed separately. The loan policy uses the simultaneous-issue rate: 30% of the loan rate up to the owner's policy amount. TIRSA.
• Recording fees are estimates: about $45 + $5 per page, a $5 TP-584 fee and the $125 RP-5217 fee ($250 for non-residential). Each county clerk's fees, and NYC's ACRIS fees, differ slightly.
• Attorney, lender and title-closer fees are typical ranges, not quotes. Edit them to match your deal.