Real Estate Taxes in New York State are complex, and it can be difficult for a first-time buyer to know what they will owe. The chart attached here should clear up some of the confusion. It contains the tax amounts–residential and commercial–for Transfer Taxes and the Mortgage recording tax, including any local differences by county. Keeping abreast of Real Estate taxes is an important part of any transaction, and can prevent any unwelcome surprises at the closing table. This chart is current as of the date of the blog posting – figures and rates are subject to change.
April 30, 2016