N.Y. MORTGAGE TAX RATES

New York City

Residential

Loan amount less than $500,000

2.05%

The borrower pays 1.80% minus $30.00 if the property is 1-2 family and the loan is $10,000 or more.*

The lender pays .25% if the property is a 1-6 family.

$500,000 and more

2.175%

The borrower pays 1.925% minus $30.00 if the property is 1-2 family and the loan is $10,000 or more.*

The lender pays .25% if the property is a 1-6 family.       

Commercial (not 1, 2, 3 family or condo)

Loan amount less than $500,000

2.05%

The borrower pays the entire amount.

$500,000 and more

2.80%

The borrower pays the entire amount.

Orange, Putnam, Dutchess, Nassau and Suffolk

Residential

1.05%

The borrower pays .80% minus $30.00 if the property is 1-2 family and the loan is $10,000 or more.*

The lender pays .25% if the property is a 1-6 family.       

Commercial

1.05%

The borrower pays the entire amount.

Rockland

Residential

1.30%

The borrower pays 1.05% minus $30.00 if the property is 1-2 family and the loan is $10,000 or more.*

The lender pays .25% if the property is a 1-6 family.       

Commercial

1.30%

The borrower pays the entire amount.

Westchester (except Yonkers)

Residential

1.30%

The borrower pays 1.05% minus $30.00 if the property is 1-2 family and the loan is $10,000 or more.*

The lender pays .25% if the property is a 1-6 family.       

Commercial

1.30%

The borrower pays the entire amount.

Yonkers

Residential

1.80%

The borrower pays 1.55% minus $30.00 if the property is 1-2 family and the loan is $10,000 or more.*

The lender pays .25% if the property is a 1-6 family.       

Commercial

1.80%

The borrower pays the entire amount.

* For mortgages less than $10,000, the mortgage tax is .30% less than the regular applicable rate.

A .25% exemption is permitted pursuant to Sec. 253 of the Tax Law for transactions involving 1-6 family dwellings where the lender is a natural person. This exemption does not apply to vacant land.