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Real estate transfer tax

On or after May 9, 2025, conveyances of real property for open space, parks, or historic preservation purposes to any not-for-profit tax exempt corporation operated for conservation, environmental, parks, or historic preservation purposes are exempt from the additional tax (mansion tax).

We’ll post the following revised forms soon:

  • Form TP-584, Combined Real Estate Transfer Tax Return, Credit Line Mortgage Certificate, and Certification of Exemption from the Payment of Estimated Personal Income Tax, and its instructions
  • Form TP-584-NYC, Combined Real Estate Transfer Tax Return, Credit Line Mortgage Certificate, and Certification of Exemption from the Payment of Estimated Personal Income Tax for the Conveyance of Real Property Located in New York City, and its instructions

New York State imposes a real estate transfer tax on conveyances of real property or interests therein when the consideration exceeds $500.

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