Mortgage Recording Tax

NY Tax Law Article 11, § 253 (Recording Tax on Mortgages); NYC additional tax authorized by NY Tax Law § 253-a and imposed under NYC Administrative Code Title 11, Chapter 26

NY Tax Law § 253 imposes a tax on recording a mortgage on real property situated in New York State, comprising a basic tax of 50 cents per $100 of principal debt secured (§253(1)), a special additional tax of 25 cents per $100 on most non-natural-person mortgagees (§253(1-a)), and an additional tax of 30 cents per $100 for counties within the Metropolitan Commuter Transportation District, which includes the five NYC boroughs (§253(2)). Separately, New York City levies a further additional mortgage recording tax — authorized by NY Tax Law § 253-a and imposed under NYC Administrative Code Title 11, Chapter 26 — at rates that vary by property type (1–3 family homes, co-ops, and condos vs. other property) and mortgage amount (a $500,000 threshold), producing combined NYC rates of roughly 2.05% to 2.80%.