Deed Transfer Taxes and Documentary Stamps

Deed Transfer Taxes and Documentary Stamps
The New York State Real Estate Transfer Tax (RETT) is $2.00 for each five hundred dollars or fraction of consideration. In addition, there are local transfer taxes in New York City, City of Yonkers, City of Mount Vernon and Erie and Nassau Counties, as well as in several towns in eastern Suffolk County (The Peconic Region).

Customarily, transfer taxes, with the exception of the Mount Vernon tax, are paid by the seller, although a failure of the seller to pay could result in an imposition on the purchaser.

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Related Bulletins: None.

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