Mortgage Recording Tax
Who is Subject to this Tax?
A NYC Mortgage Recording
Tax is charged for mortgages recorded on property in the five boroughs.
Some exceptions may apply. Finance’s Office of the New York City Register (or,
in Staten Island, the Richmond County Clerk) collects this tax.
Tax Forms and Filing Information
All property documents for Queens, Brooklyn, Manhattan
and the Bronx are recorded online using the ACRIS System. The correct Mortgage
Recording Tax information and documents must be provided at the time of
recording. This includes any exemption claims.
ACRIS Online City Register Information
Service
Documents for Staten Island Properties must be recorded
in person at the Richmond County Clerk’s Office.
Tax Rates
There is a New York
State and New York City Mortgage Recording Tax for mortgages recorded on property in the
five boroughs of New York City. The total for both rates when the
principal amount of the mortgage is:
-
Less than $500,000:
- $2.05 for each $100, or major fraction of the
principal amount.
- If the property to be covered is a one- or two-family house,
the tax is reduced to $1.75 for each $100 of the first $10,000 of the principal
amount.
-
$500,000 or more and the property to be covered is a
one-, two-, or three-family house or individual residential condominium unit:
- $2.175 for each $100, or major fraction of the principal
amount.
- If the mortgage is for a one- or two-family house the
tax is reduced to $1.75 for each $100 of the first $10,000 of the principal
amount.
-
$500,000
or more and the property to be covered is not a one-, two, or three-family
house or individual residential condominium unit:
- $2.80
for each $100, or major fraction of the principal.
Legal Authority
Title 11,
Chapter 26, Administrative Code
Tax Law Section 253-a
Contact Us
Email City
Register
There is no Office of the City Register
in Staten Island. Property documents are recorded by the Richmond County
Clerk.
