United States · New York real estate
NY mansion tax calculator.
Enter the price and see the 1% mansion tax, the New York City supplemental tax from $2,000,000, and what the buyer owes at closing.
Price and location
Buyer-paid mansion tax only. Transfer taxes, mortgage recording tax and title costs are not included.
Result
Fill the form and press Calculate.
What the New York mansion tax is
The "mansion tax" is New York's additional tax on residential purchases. Tax Law section 1402-a sets it at one percent of the consideration, or the part of it attributable to the residential real property, when the consideration for the entire conveyance is $1,000,000 or more. The statute defines residential property as any premises that is or may be used in whole or in part as a personal residence and names one-, two- or three-family houses, individual condominium units and cooperative apartment units. The buyer pays it. If the buyer does not pay on time, or is exempt, the seller must, and the tax then becomes a joint and several liability of both.
The tax is a cliff, not a slope. A buyer at $999,999 owes nothing; a buyer at $1,000,000 owes $10,000. Each dollar of price above the line then adds one percent, and inside New York City the supplemental brackets below create more cliffs at $2 million, $3 million and higher.
How the calculator works, variable by variable
Total price
Enter the consideration for the entire conveyance. This is the number tested against the $1,000,000 and $2,000,000 lines, and it also selects the supplemental bracket.
Residential share
The tax applies to the part of the consideration attributable to residential property, but the thresholds look at the entire conveyance. For a building with a ground-floor shop, a 60% residential share on a $1,500,000 price means the tests use $1,500,000 and the 1% applies to $900,000. The default is 100%. How a price is actually allocated comes from the contract and the transfer-tax filing, not from this tool.
New York City
The State Department of Taxation and Finance says that beginning July 1, 2019, certain New York City conveyances (other than those made under a binding written contract entered into on or before April 1, 2019) also pay a supplemental tax on residential property when the consideration is $2 million or more. The schedule is in Tax Law section 1402-b, and the rate for the bracket applies to the residential consideration as a whole.
| Consideration, entire conveyance | 1% state tax | NYC supplemental | NYC combined | NYC combined tax at the bottom of the bracket |
|---|---|---|---|---|
| $1M to under $2M | 1% | none | 1% | $10,000 |
| $2M to under $3M | 1% | 0.25% | 1.25% | $25,000 |
| $3M to under $5M | 1% | 0.5% | 1.5% | $45,000 |
| $5M to under $10M | 1% | 1.25% | 2.25% | $112,500 |
| $10M to under $15M | 1% | 2.25% | 3.25% | $325,000 |
| $15M to under $20M | 1% | 2.5% | 3.5% | $525,000 |
| $20M to under $25M | 1% | 2.75% | 3.75% | $750,000 |
| $25M and over | 1% | 2.9% | 3.9% | $975,000 |
Worked example (hypothetical purchases)
- $1,950,000 condo in Manhattan, all residential: 1% is $19,500. The price is under $2,000,000, so there is no supplemental tax. Total $19,500.
- The same condo at $2,000,000: the 0.25% supplemental tax applies to the whole amount, so the rate is 1.25% and the tax is $25,000. A $50,000 higher price costs $5,500 more tax.
- $3,000,000 apartment in New York City: 1.5% combined, $45,000.
- $1,500,000 two-family house outside New York City: 1% only, $15,000.
- $1,500,000 mixed-use building outside New York City, 60% allocated to residential (illustrative split): the entire conveyance is over $1,000,000, so the tax applies, on $900,000: $9,000.
Edge cases and common mistakes
- Treating it as marginal. The rate does not apply only above $1,000,000 or above a bracket line. It applies to the whole residential amount.
- Mixing it up with the transfer tax. The state transfer tax is $2 per $500 of consideration, paid by the seller. In New York City a seller-paid additional base tax of $1.25 per $500 applies to residential sales of $3 million or more. Those are not in this result, which is the buyer-side mansion tax only.
- Assuming the supplemental tax is statewide. The 1402-b schedule in this tool is the New York City tax; outside the city only the 1% applies.
- Assuming everyone pays. The Department says conveyances for open space, parks or historic preservation to certain not-for-profit tax-exempt corporations are exempt from the mansion tax only.
- Ignoring other closing costs. Mortgage recording tax, title insurance, lender fees and attorney fees are separate. The statute text read has no separate new-construction rule, and how several units bought together are combined is a question for your closing attorney.
Who this is for, and what it does not cover
Buyers and agents who want the mansion tax before an offer, and anyone comparing a price just under a line with one just over it. It does not compute the seller's transfer taxes, the New York City Department of Finance real property transfer tax, mortgage recording tax, or any filing. For the seller side and other states see the U.S. transfer tax calculator by state; for the loan side see how much house can I afford, the FHFA conforming loan limits and the mortgage points calculator.
Sources
- NY Tax Law section 1402-a — 1% additional tax, $1,000,000 threshold, covered property, buyer pays
- NY Tax Law section 1402-b — supplemental tax schedule from $2,000,000
- NY Department of Taxation and Finance: real property transfer tax — mansion tax, July 1, 2019 NYC taxes, who pays, exemption
Every source above was opened on 20 October 2026 (retrieved October 2026). Agencies revise rates and forms, so confirm anything that affects a closing against the current official page.
Frequently asked questions
What is the New York mansion tax?
It is an additional tax of 1% on the part of the price attributable to residential property when the consideration for the entire conveyance is $1,000,000 or more, under Tax Law section 1402-a. The buyer pays it. The New York State Department of Taxation and Finance describes it as an additional tax on residences where consideration is $1 million or more.
At what price does the mansion tax start?
At exactly $1,000,000. The statute says the consideration for the entire conveyance must be one million dollars or more, so $999,999 owes nothing and $1,000,000 owes $10,000 on an all-residential purchase.
Who pays the New York mansion tax, the buyer or the seller?
The buyer (the grantee). If the buyer does not pay on time, or is exempt, the seller must pay, and in that case the tax becomes the joint and several liability of both under section 1402-a(b).
Is the mansion tax charged only on the amount above $1,000,000?
No. It is 1% of the whole residential consideration once the threshold is met. A $1,000,000 purchase owes $10,000, not $0, and a $1,500,000 purchase outside New York City owes $15,000. The NYC supplemental rate also applies to the whole residential amount at the bracket you land in.
What is the NYC supplemental mansion tax?
For conveyances in New York City from July 1, 2019, residential property with consideration of $2,000,000 or more also pays a supplemental tax under section 1402-b: 0.25% from $2 million, 0.5% from $3 million, 1.25% from $5 million, 2.25% from $10 million, 2.5% from $15 million, 2.75% from $20 million and 2.9% from $25 million. Added to the 1%, the combined rate runs from 1.25% to 3.9%. A binding written contract entered into on or before April 1, 2019 is outside the new tax.
Does the mansion tax apply to condos and co-ops?
Yes. Section 1402-a covers any premises that is or may be used in whole or in part as a personal residence and names one-, two- or three-family houses, individual condominium units and cooperative apartment units.
Is the mansion tax the same as the state transfer tax?
No. The state transfer tax is $2 for each $500 of consideration and is paid by the seller. The mansion tax is a separate, buyer-paid tax. In New York City a seller-paid additional base tax of $1.25 per $500 also applies to residential sales of $3 million or more. This calculator covers only the buyer-paid mansion tax.
Is anything exempt from the mansion tax?
The Department of Taxation and Finance says conveyances of real property for open space, parks or historic preservation to certain not-for-profit tax-exempt corporations are exempt from the mansion tax only. Ordinary residential purchases by individuals are not exempt on that basis.
Estimate only
This is an educational estimate of the buyer-paid mansion tax, not tax or legal advice. Your closing attorney and the filed transfer tax return control the actual amount.