New York Mansion Tax on NYC Property
StatusCurrentCurrent law; 2026 review.
Quick answer
New York State imposes an additional real estate transfer tax commonly called the mansion tax on certain residential real-property transfers at or above the applicable consideration threshold. For property in New York City, additional supplemental rates can apply at higher consideration levels. The property may be in NYC, but the mansion-tax framework is a New York State transfer-tax rule.
The distinction
PROPERTY IN NYC ≠ TAX CREATED SOLELY BY NYC
What can change the answer?
- Residential property classification.
- Consideration.
- Property location.
- Transaction structure.
- Applicable rate tier.
- Buyer/seller responsibility under the relevant rule.
- Contract date where transitional rules matter.
Official source
The rule being applied
New York State imposes an additional real estate transfer tax on certain residential real-property transfers at or above the applicable consideration threshold, with supplemental rates applying at higher consideration levels for property located in New York City.
Jurisdiction: New York State, with NYC transaction context · Current law; 2026 review.
Where this becomes a professional question
The sale price may tell you that a transfer-tax rule is relevant. It does not necessarily tell you the full transfer-tax cost.
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