New York Mansion Tax Calculator 2026
Instantly calculate the NYC Mansion Tax on your residential property purchase. New York's progressive tax applies to all properties sold for $1,000,000 or more.
NYC Mansion Tax Calculator
New York City • Instant Estimate
Estimated Mansion Tax
$31,250
Estimate based on current New York City tax regulations. Consult a licensed professional for exact figures.
Example: Mansion Tax Calculation for a $3 Million Property in 2026
A property purchased for $3,000,000 in New York City falls into the 1.50% mansion tax bracket. Unlike a marginal tax, the NYC Mansion Tax is a flat tax — meaning the rate applies to the entire purchase price, not just the amount above the threshold.
The calculation is straightforward: $3,000,000 × 1.50% = $45,000. This tax is paid by the buyer at closing and remitted to the NYC Department of Finance. It applies equally to condos, co-ops, and townhouses — there is no exemption based on property type.
NYS Progressive Mansion Tax Rates — 2026
Effective for all residential transactions in New York City at or above $1,000,000.
| Purchase Price Range | Mansion Tax Rate |
|---|---|
| Under $1,000,000 | 0.00% (Exempt) |
| $1,000,000 to $1,999,999 | 1.00% |
| $2,000,000 to $2,999,999 | 1.25% |
| $3,000,000 to $4,999,999 | 1.50% |
| $5,000,000 to $9,999,999 | 2.25% |
| $10,000,000 to $14,999,999 | 3.25% |
| $15,000,000 to $19,999,999 | 3.50% |
| $20,000,000 to $24,999,999 | 3.75% |
| $25,000,000 and above | 3.90% |
NYC Mansion Tax FAQ
Who pays the NYC Mansion Tax?
The buyer is legally responsible for paying the Mansion Tax. It must be paid to the NYC Department of Finance, typically within 15 days of the closing date. In rare circumstances where the buyer is exempt (e.g., a governmental entity), the seller may be required to pay it.
Is the NYC Mansion Tax marginal or flat?
The NYC Mansion Tax is a flat tax, not marginal. This means the applicable rate is applied to the entire purchase price — not just the amount above the bracket threshold. For example, a $2,000,000 purchase is taxed at 1.25% on the full $2,000,000, resulting in a $25,000 tax.
Are there any exemptions?
Properties purchased for under $1,000,000 are entirely exempt. Certain governmental agencies, charitable institutions, and qualifying non-profit organizations may also be exempt from the Mansion Tax.
Does the Mansion Tax apply to both condos and co-ops?
Yes. The NYC Mansion Tax applies to all residential property types — condos, co-ops, townhouses, and single-family homes — as long as the purchase price meets or exceeds $1,000,000.