NYC Real Property Transfer Tax (RPTT)
NYC imposes RPTT on sales/transfers over $25,000 and requires filing a return and paying tax within 30 days after the transfer (even if a transfer is exempt or the tax is zero). NYC publishes different rate brackets by transfer type (residential type 1/2 vs other transfers) and value threshold ($500,000).
- Where it applies
- New York City
- When it comes up
- Closing → post-closing (30-day filing deadline)
- Property types
- NYC real property transfers; includes co-op economic interest transfers as defined by NYC rules
Read more in the Knowledge Base
- NYS and NYC Transfer Tax - Verified Net-Proceeds PlanningSellers
- Selling Co-op Shares vs. Condo Units - Verified Tax and Process DifferencesSellers
- Residential Property Exit StrategyBuyers
- Selling a Single-Family Home Outside New York CitySellers
- Buying Through Trusts, LLCs, and Estate Structures in NYC - Ownership Control, Board Consent, Financing Friction, and Transparency RequirementsBuyers
Closing Process
- Closing (Settlement)
- Closing Disclosure (CD)
- Contract Deposit (Earnest Money) Escrow
- Escrow
- Escrow Agent
- Estoppel Certificate
- Holdback Escrow
- Loan Estimate (LE)
- Mansion Tax (Additional NYS Transfer Tax)
- Mortgage Recording Tax (NYC)
General information, not legal, tax or financial advice.