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Serendipity
Summer!
Member since 4/07 7631 total posts
Name:
PrayingWishingHopingALOT
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Transfer Tax
Does anyone know how I can roughly figure out how much we would have to pay in transfer taxes when we sell our house?
I just want to have a ballpark.
TIA
Message edited 1/25/2011 10:30:36 AM.
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Posted 1/25/11 10:30 AM  |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Transfer Tax
The State tax is $2.00 for every $500.00 of the selling price.
If the property is in New York City, you must also pay NYC Real Property Transfer Tax (RPT).
For most properties (sales less than $500,000.00), the RPT is 1% of the sale price.
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| Posted 1/25/11 10:38 AM |
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Serendipity
Summer!
Member since 4/07 7631 total posts
Name:
PrayingWishingHopingALOT
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Re: Transfer Tax
Posted by Beth
The State tax is $2.00 for every $500.00 of the selling price.
If the property is in New York City, you must also pay NYC Real Property Transfer Tax (RPT).
For most properties (sales less than $500,000.00), the RPT is 1% of the sale price.
House is in nassau county.
Thanks Beth!
BTW I am going to FM you.
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| Posted 1/25/11 10:52 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Transfer Tax
you are welcome!
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| Posted 1/25/11 10:54 AM |
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