NY State Real Estate Transfer Tax Explained — 2026 Long Island Seller Guide
If you're selling a home on Long Island, you'll see a line on your closing statement called NY State Real Estate Transfer Tax. It's small enough that most sellers ignore it but big enough on a $700K sale ($2,800) that the line matters. This article explains exactly what the tax is, how it's calculated, who pays it, the exemptions that exist, and how it relates to the Mansion Tax and (if you sold in NYC) the RPTT.
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