--- title: "NYC Mansion Tax Calculator 2026: Rates, Examples & Buyer Savings" description: "Calculate NYC mansion tax for condos, co-ops, townhouses, penthouses, and new developments. See 2026 rates, buyer examples, closing-cost context, and buyer savings options." url: "https://realestaterebatesnewyork.com/calculators/nyc-mansion-tax-calculator" source: "Real Estate Rebate Team" --- Real Estate Rebate Team Licensed Broker NY & NJ · License: 10491211335 ## Property Details Purchase Price$ Property TypeCondoCo-op1–3 Family4+ FamilyCommercial Sponsor Pays / Buyer Pays Transfer Taxes Typically paid by seller, but buyer pays in new dev. Estimated NYC Mansion Tax $15,000 Total Buyer-Paid Taxes & Fees $15,000 1% Mansion Tax Rate Email My Estimate Purchase Price $1.5M Mansion Tax $15K NYC Transfer $21K NYS Transfer $6K Total Buyer Pays $15K ### Key Cost Drivers Mansion Tax $15,000 Applies to qualifying residential purchases of $1M or more. NYC Transfer Tax $21,375 Typically paid by the seller, but shifted to the buyer in sponsor sales. NYS Transfer Tax $6,000 Standard 0.4% tax with an additional 0.25% surcharge for high-value transactions. ### Detailed Breakdown “Mansion tax applies to residential purchases of $1M or more. NYC and NYS transfer taxes also apply, and are negotiable who pays in sponsor sales.” Tax TypeAmount NYS Mansion Tax (1%)Rate: 1.000% $15,000 NYS Transfer Tax (base 0.4%)Rate: 0.400% $6,000 NYC Transfer TaxRate: 1.425% $21,375 Total Combined Taxes$42,375 ## Mansion Tax Examples by Purchase Price Based on 2026 NYC mansion tax rates applied to the full purchase price. Purchase PriceRateMansion TaxBuyer Context$1,000,0001.00%$10,000First mansion tax threshold — minimum tax applies$1,500,0001.00%$15,000Common entry-level luxury condo range$2,000,0001.25%$25,000NYC supplemental tier begins — rate jumps at this threshold$3,000,0001.50%$45,000Mid-luxury condo and townhouse range$5,000,0002.25%$112,500High-end condo, townhouse, and penthouse range$10,000,0003.25%$325,000Trophy penthouse and luxury townhouse range$25,000,0003.90%$975,000Maximum tier — ultra-luxury properties * Rate applies to the full purchase price, not just the amount above each threshold. Verify rates with your attorney before closing. ### About NYC Transfer Taxes Mansion tax is residential-only and starts at 1% for purchases of $1M or more. NYC and NYS transfer taxes also apply to transfers of real estate, commonly paid by the seller, but shifted to the buyer in sponsor/new development sales. This calculator provides estimates for informational purposes only and is not legal, tax, or financial advice. Actual costs and requirements vary by property, contract, building, lender, and location and may change over time. Verify all figures with your attorney, lender, and closing agent before relying on them. ## Can the Buyer Advantage Help Offset Mansion Tax? Mansion tax is still due when it applies. An Estimated Buyer Advantage or closing credit does not reduce the tax itself. What it can do is help lower the overall cost of buying. For eligible purchases, Real Estate Rebates New York may offer an Estimated Buyer Advantage at closing. That money can help offset part of the buyer's total closing-cost burden, including mansion tax, title charges, attorney fees, mortgage-related costs, and other expenses that come with buying in NYC. This matters more as the purchase price goes up. On a $2 million purchase, total buyer closing costs can easily reach $50,000 to $80,000 or more, depending on the property type and financing. For a higher-priced condo, townhouse, penthouse, or new development, the numbers can climb quickly. Here is a simple way to think about it: Purchase PriceEstimated Buyer AdvantageWhy It Matters$2MUp to about $10,000+Can help offset part of the mansion tax or other closing costs$5MUp to about $25,000+Can make a meaningful difference in total cash needed to close$10M+Custom estimateBuyer Advantage should be reviewed based on the actual deal structure * Advantage estimates are illustrative. Actual results depend on the purchase price, property type, commission structure, and transaction terms. Before making an offer, ask Régis to review the full closing-cost picture. [Request a Buyer Savings Estimate](https://realestaterebatesnewyork.com/cdn-cgi/l/email-protection#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) ## How the NYC Mansion Tax Works The NYC mansion tax applies when a residential purchase reaches $1,000,000 or more. The rate starts at 1% and increases at higher price points. The tax is calculated on the full purchase price, not just the amount above each threshold. For buyers, the important point is simple: mansion tax is separate from your down payment, attorney fee, lender costs, title charges, and any new development costs. It is usually paid by the buyer at closing. ### NYC Mansion Tax Tiers Sale Price RangeBase (NYS 1%)SupplementalTotal Rate$1M – <$2M1.00%—1.00%$2M – <$3M1.00%0.25%1.25%$3M – <$5M1.00%0.50%1.50%$5M – <$10M1.00%1.25%2.25%$10M – <$15M1.00%2.25%3.25%$15M – <$20M1.00%2.50%3.50%$20M – <$25M1.00%2.75%3.75%$25M+1.00%2.90%3.90% ## Frequently Asked Questions How much is the Mansion Tax in NYC? Who pays the NYC Mansion Tax, the buyer or the seller? Does the Mansion Tax apply to co-ops? Can I finance the Mansion Tax into my mortgage? How is the NYC mansion tax calculated? Who pays mansion tax in NYC? Is NYC mansion tax progressive? How much is the mansion tax on a $1 million purchase? How much is the mansion tax on a $2 million purchase? How much is the mansion tax on a $5 million home in NYC? Does mansion tax apply to a $500,000 NYC apartment? Does mansion tax apply to condos, co-ops, townhouses, and penthouses? Does mansion tax apply to new development condos? Can buyer savings help offset mansion tax or closing costs? ## Glossary of Terms Mansion Tax A state-level tax (NYS) of 1% applied to residential purchases of $1 million or more in New York State. NYC Supplemental Mansion Tax An additional progressive tax ranging from 0.25% to 2.90% applied specifically in New York City for residential properties priced at $2 million or higher. NYS Transfer Tax A standard transfer tax of 0.4% charged by the state. An additional 0.25% is applied for residential properties $3M and over (or $2M and over for commercial). NYC Transfer Tax A city-level tax levied on real property transfers. For residential sales, it is 1% for $500,000 or less, and 1.425% for sales over $500,000. Buyer Closing Costs The collective fees and taxes paid by the buyer to finalize a property purchase. In NYC, mansion taxes are a major component of buyer closing costs. New Development Transfer Taxes When buying directly from a sponsor in a new development, the buyer is typically required to pay the NYS and NYC Transfer Taxes (which are normally paid by the seller in a resale). Co-op Mansion Tax Consideration While co-op buyers purchase shares in a corporation rather than real property, the mansion tax still explicitly applies to co-op sales of $1M or more. ## Related Calculators & Guides [→Buyer Closing Cost Calculator](https://realestaterebatesnewyork.com/calculators/buyer-closing-cost-calculator)[→New Development Closing Cost Calculator](https://realestaterebatesnewyork.com/calculators/new-development-closing-cost-calculator)[→Rebate](https://realestaterebatesnewyork.com/rebate) ## Need Help Navigating NYC Mansion Tax? Before you make an offer, ask Régis to review your estimated mansion tax, buyer closing costs, and eligible Buyer Advantage opportunities. [Schedule a Private Consultation](https://calendly.com/real-estate-rebate-info/30min)[Estimate Your Buyer Advantage →](https://realestaterebatesnewyork.com/buyer-advantage) Chat with us on WhatsApp ```json {"@context":"https://schema.org","@type":"RealEstateAgent","@id":"https://realestaterebatesnewyork.com/#organization","name":"Real Estate Rebate Team","alternateName":"Real Estate Rebate NYC","url":"https://realestaterebatesnewyork.com","logo":"https://realestaterebatesnewyork.com/logo_black.png","image":"https://realestaterebatesnewyork.com/logo_black.png","description":"Real Estate Rebate Team is a licensed NYC residential brokerage helping buyers compare condos, co-ops, penthouses, townhouses, new developments, sponsor units, closing costs, mansion tax exposure, and potential buyer savings at closing.","email":"info@real-estate-rebate.com","telephone":"+1-315-514-0164","address":{"@type":"PostalAddress","streetAddress":"257 13th Street","addressLocality":"Brooklyn","addressRegion":"NY","postalCode":"11215","addressCountry":"US"},"geo":{"@type":"GeoCoordinates","latitude":40.6643,"longitude":-73.9904},"priceRange":"$$$","areaServed":{"@type":"City","name":"New York","@id":"https://en.wikipedia.org/wiki/New_York_City"},"sameAs":["https://www.facebook.com/profile.php?id=61550227271910","https://www.instagram.com/real_estate_rebate_team2023/","https://www.linkedin.com/in/real-estate-rebate-team-a8201526b/","https://x.com/Realrebate10011","https://www.tiktok.com/@realestaterebateteam"]} {"@context":"https://schema.org","@type":"FAQPage","mainEntity":[{"@type":"Question","name":"How much is the Mansion Tax in NYC?","acceptedAnswer":{"@type":"Answer","text":"The NYC Mansion Tax ranges from 1.00% to 3.90% depending on the purchase price of the property. For homes between $1 million and $1,999,999, a flat 1% rate applies. For homes $2 million and above, a supplemental tax kicks in, gradually increasing to a maximum of 3.90% for properties $25 million or higher."}},{"@type":"Question","name":"Who pays the NYC Mansion Tax, the buyer or the seller?","acceptedAnswer":{"@type":"Answer","text":"The NYC Mansion Tax is customarily paid by the buyer at closing. However, in cases of new developments, negotiations can sometimes result in the sponsor (seller) agreeing to pay the mansion tax on the buyer's behalf as a closing concession."}},{"@type":"Question","name":"Does the Mansion Tax apply to co-ops?","acceptedAnswer":{"@type":"Answer","text":"Yes, the NYC Mansion Tax applies to all residential property purchases of $1 million or more in New York City, including condos, co-ops, and 1-3 family homes."}},{"@type":"Question","name":"Can I finance the Mansion Tax into my mortgage?","acceptedAnswer":{"@type":"Answer","text":"No, the NYC Mansion Tax cannot be rolled into your mortgage loan. It must be paid upfront out of pocket as part of your buyer closing costs."}},{"@type":"Question","name":"How is the NYC mansion tax calculated?","acceptedAnswer":{"@type":"Answer","text":"NYC mansion tax is calculated as a percentage of the full purchase price, not just the amount above the threshold. For residential purchases from $1 million to under $2 million, the rate is 1%. At $2 million and above, New York City purchases may also owe a supplemental mansion tax. That is why the total rate can rise from 1% to as much as 3.9% on very high-priced purchases. For example, a $2 million purchase is taxed at 1.25%, so the mansion tax would be $25,000."}},{"@type":"Question","name":"Who pays mansion tax in NYC?","acceptedAnswer":{"@type":"Answer","text":"The buyer usually pays mansion tax at closing. Under New York law, the tax is paid by the grantee, which means the buyer. In a normal resale, buyers should plan to pay it as part of their closing costs. In some new development deals, a sponsor may agree to cover it as a concession, but that depends on the building, the market, and the contract terms."}},{"@type":"Question","name":"Is NYC mansion tax progressive?","acceptedAnswer":{"@type":"Answer","text":"Yes. In NYC, mansion tax becomes progressive once the purchase price reaches $2 million. The first tier starts at 1% for residential purchases of $1 million or more. At $2 million and above, supplemental rates apply. The total rate increases at higher price bands and can reach 3.9% for purchases of $25 million or more. One important point: the rate applies to the full purchase price."}},{"@type":"Question","name":"How much is the mansion tax on a $1 million purchase?","acceptedAnswer":{"@type":"Answer","text":"On a $1 million residential purchase, the mansion tax is $10,000. That is the first mansion tax threshold. The rate is 1%, so the math is simple: $1,000,000 × 1% = $10,000"}},{"@type":"Question","name":"How much is the mansion tax on a $2 million purchase?","acceptedAnswer":{"@type":"Answer","text":"On a $2 million NYC residential purchase, the mansion tax is $25,000. At this price, the total rate is 1.25%. That includes the base 1% mansion tax plus the NYC supplemental tax that starts at $2 million. $2,000,000 × 1.25% = $25,000"}},{"@type":"Question","name":"How much is the mansion tax on a $5 million home in NYC?","acceptedAnswer":{"@type":"Answer","text":"On a $5 million NYC residential purchase, the mansion tax is $112,500. At $5 million, the total mansion tax rate is 2.25%. $5,000,000 × 2.25% = $112,500 This is why mansion tax becomes a serious closing-cost item for luxury condo, townhouse, penthouse, and new development buyers."}},{"@type":"Question","name":"Does mansion tax apply to a $500,000 NYC apartment?","acceptedAnswer":{"@type":"Answer","text":"No. Mansion tax does not apply to a $500,000 apartment. The mansion tax starts at $1 million. If the purchase price is below $1 million, there is no mansion tax. Other closing costs may still apply, but the mansion tax itself would be $0."}},{"@type":"Question","name":"Does mansion tax apply to condos, co-ops, townhouses, and penthouses?","acceptedAnswer":{"@type":"Answer","text":"Yes. Mansion tax can apply to condos, co-ops, townhouses, and penthouses when the purchase price is $1 million or more. New York law includes one-, two-, and three-family houses, individual condominium units, and cooperative apartment units in the residential property definition for this tax."}},{"@type":"Question","name":"Does mansion tax apply to new development condos?","acceptedAnswer":{"@type":"Answer","text":"Yes. Mansion tax applies to new development condos when the purchase price is $1 million or more. New development buyers should be especially careful because the mansion tax may be only one part of the closing-cost picture. Sponsor transfer taxes, attorney fees, title charges, working capital contributions, and other building-specific costs may also apply."}},{"@type":"Question","name":"Can buyer savings help offset mansion tax or closing costs?","acceptedAnswer":{"@type":"Answer","text":"Yes, buyer savings may help reduce the overall cost of buying, but they do not reduce the mansion tax itself. For eligible purchases, Real Estate Rebates New York may offer buyer savings or cash back at closing. That money can help offset part of the buyer's closing-cost burden, including mansion tax, attorney fees, title charges, mortgage-related costs, and other expenses. Before making an offer, ask Régis to review the full closing-cost picture so you understand the mansion tax, estimated buyer costs, and any potential cash back at closing."}}]} {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://realestaterebatesnewyork.com/"},{"@type":"ListItem","position":2,"name":"Calculators","item":"https://realestaterebatesnewyork.com/calculators"},{"@type":"ListItem","position":3,"name":"NYC Mansion Tax Calculator","item":"https://realestaterebatesnewyork.com/calculators/nyc-mansion-tax-calculator"}]} {"@context":"https://schema.org","@type":"WebPage","name":"NYC Mansion Tax Calculator 2026: Rates, Examples & Buyer Savings","description":"Calculate NYC mansion tax for condos, co-ops, townhouses, penthouses, and new developments. See 2026 rates, buyer examples, closing-cost context, and buyer savings options.","url":"https://realestaterebatesnewyork.com/calculators/nyc-mansion-tax-calculator","datePublished":"2024-01-01T08:00:00-05:00","dateModified":"2026-05-09T08:00:00-05:00","primaryImageOfPage":{"@type":"ImageObject","url":"https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/83b15119-619f-44a2-9d8b-184d188ac516.png"},"publisher":{"@type":"Organization","name":"Real Estate Rebate Team","logo":{"@type":"ImageObject","url":"https://realestaterebatesnewyork.com/logo_black.png"}}} {"@context":"https://schema.org","@type":"WebApplication","name":"NYC Mansion Tax Calculator","description":"Interactive calculator to estimate NYC mansion tax and transfer taxes for residential and commercial properties.","url":"https://realestaterebatesnewyork.com/calculators/nyc-mansion-tax-calculator","applicationCategory":"BusinessApplication","operatingSystem":"All","offers":{"@type":"Offer","price":"0","priceCurrency":"USD"}} ```