This simple calculator can help home sellers in New York City estimate their transfer taxes. To get a ballpark idea of the transfer fees you might pay in the Big Apple, enter your home’s estimated selling price above.
Need a selling price? Try HomeLight’s free Home Value Estimator to see what your house might be worth. To receive a more accurate listing price, contact a top New York City real estate agent and request a Comparative Market Analysis (CMA), a report that will compare your home against nearby listed and recently sold properties.
See a full cost and proceeds breakdown
A top real estate agent can provide you with a Seller’s Net Sheet that breaks down all the costs of selling your home, along with an estimate of the proceeds you can expect. Use HomeLight’s free Agent Match platform to find a trusted local agent with excellent reviews and a proven track record.
How the New York City Transfer Tax is Calculated
New York City’s transfer tax, known as a Real Property Transfer Tax, is calculated at a rate of 1% of the property’s sale price. This applies to properties sold or transferred in an amount over $25,000.
These rates will vary depending on the type of property. For properties valued at less than $500,000, the rate is 1% of the price. For properties valued over $500,000, the rate is 1.425% of the price.
For example, if you sold your home for $436,000 (New York City’s median home price), you could expect to pay $6,104 in New York City transfer taxes.
»Learn more: Understanding New York City’s Transfer Tax: A Quick Guide
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