Taxes when buying a house in New York

A New York buyer with a mortgage pays the mortgage recording tax, which runs from 0.5% to 1.925% of the loan depending on the county. On a home of $1 million or more the buyer also pays the mansion tax, 1% of the price and more in New York City.

Purchase price

State

Location

Down payment

Loan amount: $320,000. Some states tax the mortgage, so the loan size changes the result there. Paying cash? Enter 100.

Estimated taxes when you buyNew York · Rates verified November 2026

Pay to the order ofState and county tax offices$3,200

Three thousand two hundred and 00/100 dollars

On a $400,000 purchase with a $320,000 loan

Taxes the buyer pays
Mortgage recording tax1% of the loan (0.5% to 1.05% by county)	$3,200
Total buyer taxes	$3,200

Taxes only. Lender fees, title insurance, flat recording fees and prepaid property tax are separate closing costs.

What a New York home buyer is taxed on

Buyer's taxes: Mortgage recording tax: 1% of the loan (0.5% to 1.05% by county), charged on the loan amount.
Mansion tax: 1% of the price at $1 million or more, charged on the purchase price.
Transfer tax: The seller pays the state transfer tax and, in New York City, the city tax. The buyer pays the mansion tax on homes of $1 million or more.
Sales tax: None. A home is real estate, and sales tax does not apply to it.
Official source: New York State Form MT-15, mortgage recording tax
Last verified: November 2026

The lender pays a further 0.25% of the mortgage tax on a home loan. The figures here are the borrower's share.
One and two family homes get a small deduction of $25 or $30 that the calculator leaves out.
The East End towns of Long Island charge the buyer a Peconic Bay tax of 2% to 2.5% above an exemption, and a few Hudson Valley towns have similar taxes. They are not in the calculator.

New York buyer taxes at common prices

Purchase price	Loan with 20% down	Buyer's taxes
$150,000	$120,000	$1,200
$250,000	$200,000	$2,000
$400,000	$320,000	$3,200
$600,000	$480,000	$4,800
$1,000,000	$800,000	$18,000

At the "Most New York counties" rate. Other locations are in the next table.

Buyer taxes by location in New York

Location	Buyer's taxes on a $400,000 home
Most New York counties	$3,200
New York City	$5,760
Nassau or Suffolk County	$2,560
Westchester County	$3,360
Erie or Monroe County	$2,400

Questions New York buyers ask

Do buyers pay transfer tax in New York?

The seller pays the state transfer tax and, in New York City, the city tax. The buyer pays the mansion tax on homes of $1 million or more.

Is there a mortgage tax in New York?

Yes. The borrower's share of the mortgage recording tax is 0.5% to 1.05% of the loan in most counties, 1.8% in New York City on loans under $500,000 and 1.925% on larger ones. Co-op loans are not taxed.

Is there sales tax when you buy a house in New York?

No. Sales tax applies to goods and some services, and a house is real estate, which no state taxes that way. The one-time taxes a New York buyer does pay are listed on this page.

How much tax does a buyer pay at closing in New York?

On a $400,000 home bought with 20% down, a New York buyer pays about $3,200 in state and local taxes: $3,200 in mortgage recording tax. Lender fees, title insurance and prepaid property tax come on top.

Selling in New York? Use the New York transfer tax calculator.