This simple calculator can help home sellers in Suffolk County estimate their transfer taxes. To get a ballpark idea of the transfer fees you might pay in Long Island, 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 Suffolk County real estate agent and request a Comparative Market Analysis (CMA), a report that will compare your home against nearby listed and recently sold properties.
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.See a full cost and proceeds breakdown
How the Suffolk County Transfer Tax is Calculated
Suffolk County’s real estate transfer tax is $2.00 per $500 of the property’s sale price.
For example, if you sold your home for $660,000 (Suffolk County’s median home price), you could expect to pay $2,640 in Suffolk County transfer taxes. Sellers are also required to pay the state of New York’s transfer tax, which is the same as Suffolk County’s.
»Learn more: Understanding Suffolk County’s Transfer Tax: A Quick Guide
See the bigger home sale picture: To see what your entire home sale might cost, try HomeLight’s New York Seller Closing Cost Calculator. You’ll also get a preliminary look at your estimated net proceeds.
Does the Seller Always Pay the Suffolk County Transfer Tax?
While it’s customary for the seller to pay the Suffolk County transfer tax, who pays can sometimes be a point of negotiation between the buyer and seller during the closing process.
Some Suffolk County home sales may be exempt, such as those provided as the result of a will or transfer to or between government entities. For a complete list, consult the state of New York’s list of transfer tax exemptions.
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