The DeVito Team · Keller Williams Realty Greater Nassau
Long Island and Queens: the taxes, the fees, and where each number comes from.
The short answer: a New York seller pays the State transfer tax of 0.4% of the price, the commission set in their listing agreement, their own attorney's fee, any mortgage payoff, and closing adjustments. A Queens or Brooklyn seller normally also pays New York City's transfer tax of 1% or 1.425%, so the taxes on a city sale run several times higher than on the same price in Nassau or Suffolk.
| Tax | Rate | Where |
|---|---|---|
| NYS transfer tax | $2 per $500 of the price (0.4%) | Everywhere in NY |
| NYC real property transfer tax | 1% at $500,000 or less; 1.425% above | Queens, Brooklyn |
| NYS additional base tax | $1.25 per $500, residential sales of $3 million or more | NYC only |
Sources: NYS Department of Taxation and Finance; NYC Department of Finance. Rates checked 2026-10-07. The NYC rates apply to one- to three-family houses, condo units and co-op apartments. The buyer, not the seller, pays the 1% mansion tax — see New York transfer tax & mansion tax.
| Sale price | Nassau or Suffolk | Queens |
|---|---|---|
| $800,000 | $3,200 | $14,600 |
| $1,000,000 | $4,000 | $18,250 |
| $1,500,000 | $6,000 | $27,375 |
Arithmetic on the rates above, for illustration — not a quote and not a market figure. Queens = State tax plus City tax.
A New York seller typically pays the State transfer tax (0.4% of the price), the brokerage commission set in the listing agreement, their own attorney's fee, the payoff of any mortgage or lien, and closing adjustments for property taxes or common charges. In New York City (Queens and Brooklyn) the seller normally also pays the City's real property transfer tax of 1% or 1.425%. Co-op sellers may also owe a flip tax if the building's own documents set one.
Yes. New York State says the base transfer tax is "paid by the grantor (seller)," at $2 for every $500 of the price, which is 0.4%. The 1% "mansion tax" on residences of $1 million or more is paid by the buyer.
The seller is normally liable for New York City's real property transfer tax; the buyer becomes liable if the seller is exempt or does not pay. For a one- to three-family house, condo unit or co-op apartment it is 1% of the price at $500,000 or less and 1.425% above $500,000. It applies in Queens and Brooklyn, not in Nassau or Suffolk.
There is no published standard fee: each attorney sets their own. Ask for the fee in writing before you list, so you can put the real number into your net estimate rather than an average.
Start with the expected sale price, then subtract: the mortgage and any lien payoffs, the transfer tax (0.4% State, plus 1% or 1.425% City tax in Queens or Brooklyn), the commission in your listing agreement, your attorney's fee, and any co-op or condo charges. Closing adjustments for taxes already paid can add back to the total.
Possibly. The IRS lets you exclude up to $250,000 of gain ($500,000 on a joint return) if you owned and lived in the home for at least two of the last five years. A seller who is not a New York State resident generally pays estimated State income tax on the gain at closing, using Form IT-2663, unless an exemption applies. Your accountant confirms what applies to you.
Home-sale gain exclusion: IRS Topic 701. Nonresident estimated tax (Form IT-2663): NYS Department of Taxation and Finance.
Joseph DeVito is a New York Licensed Associate Real Estate Broker and a New York attorney. He does not act as both broker and attorney on the same transaction: here he acts as a real estate broker only, and he is not your attorney. Real estate services provided through Keller Williams Realty Greater Nassau are not legal representation. Everything on this site is general information for educational purposes only. It is not legal advice, it creates no attorney-client relationship, and it should not be relied on as legal advice — for advice about your own situation, consult your own attorney.
This page is general information, not legal or tax advice for your sale. Which charges apply, and in what amount, depends on the property and the contract, so confirm them with the attorney handling the closing and your accountant.
Planning when to list? See the best time to sell a house on Long Island and in Queens, month by month from our own sales data.
