NYS Real Estate Transfer Tax
NY Tax Law Article 31, § 1402 (Real Estate Transfer Tax — Imposition of Tax)
New York State imposes a real estate transfer tax under Tax Law § 1402 on conveyances of real property when consideration exceeds $500, at the rate of $2 for each $500 (or fractional part) of consideration, paid primarily by the grantor (§ 1404). Within any city of one million or more population (New York City), § 1402(a) adds a supplemental tax of $1.25 per $500 when the consideration for a conveyance of residential real property is $3,000,000 or more, or $2,000,000 or more for other property. This is a New York State tax administered by the NYS Department of Taxation and Finance, distinct from NYC's separate Real Property Transfer Tax.
Who must comply
Other DOF regulations
RPTT Rules (19 RCNY Ch. 23)
19 RCNY Chapter 23 (Rules Relating to the Real Property Transfer Tax)
STAR
N.Y. Real Property Tax Law § 425 (Basic & Enhanced STAR)
Coop/Condo Property Tax Abatement
N.Y. Real Property Tax Law § 467-a
Co-op/Condo Tax Abatement
N.Y. Real Property Tax Law § 467-a; N.Y.C. Admin. Code § 11-245.4; 19 RCNY Ch. 50
ICAP
N.Y. Real Property Tax Law §§ 489-aaaaaa to 489-kkkkkk; NYC Admin. Code §§ 11-268 to 11-278; 19 RCNY Ch. 36
NYC Property Tax Classes & Assessment Caps
N.Y. Real Property Tax Law Art. 18 §§ 1801-1806 (esp. § 1802 classification, § 1805 assessment increase caps)
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