Real Estate Transfer Tax Calculator

13 states: Texas, Missouri, Kansas, Montana, Idaho, Indiana, Mississippi, North Dakota, New Mexico, Oregon, Wyoming, Alaska, Utah. These states have no state-level transfer tax — only nominal recording fees ($20-50). Some still have local (city) transfer taxes — verify with your title company.

NY state: 0.4% under $1M to 2.0% over $3M. NYC additional: 1.0-2.625%. Plus NYC mansion tax: 1.0-3.9% over $1M. So a $5M Manhattan sale: approximately 4-5% in combined transfer taxes ($200K-$250K). Highest combined transfer tax burden in the US.

Customarily seller in most states (NY, NJ, PA, MA, CT, MD, FL, IL, others). New Hampshire splits equally (0.75% each). Washington has buyer-paid REET. NYC mansion tax (1%+ portion) is paid by the buyer. Always confirm with your closing attorney as local custom can override.

The tax itself is fixed by state/local law. But which party pays is fully negotiable in the purchase contract. Buyers in soft markets may get sellers to pay even buyer-side fees; sellers in hot markets may push transfer taxes onto buyers. The tax amount cannot be reduced — only who pays can be shifted.

Layered on sales over $1M in NYC. Tiered: 1.0% over $1M, 1.25% over $2M, 1.5% over $3M, 2.25% over $5M, 3.25% over $10M, 3.5% over $15M, 3.75% over $20M, 3.9% over $25M. Paid by buyer typically. So a $3M NYC condo owes $45K mansion tax alone (1.5% of $3M).

Yes — most states exempt: gifts to family, transfers between spouses, transfers due to divorce, deeds in lieu of foreclosure, and transfers to/from revocable trusts (typical estate planning). Some states exempt government transfers, low-value transfers (under $100), or family-farm transfers. Consult your closing attorney for specific exemption qualifications.

Property tax is annual, paid by current owner, based on assessed value (typically 0.5-2% of value/year). Transfer tax is one-time, paid at closing when ownership changes, based on sale price. They're separate revenues for state and local governments. Both are deductible to varying extents on federal taxes.

Sellers: yes, as a selling expense reducing capital gain on Schedule D. Buyers: not directly deductible, but added to cost basis for future capital gain calculation. Mortgage recording taxes and intangible taxes (FL, GA) are usually deductible as itemized real estate tax in the year paid.